PrestaShop acquisition and integration of Sylius and BitBag with cyber_Folks
DSK Law Firm’s team advised the founders of Sylius and BitBag in a complex M&A transaction in the IT and e-commerce sector, including the integration with cyber_Folks and the finalization of Cyber Pixel’s €54 million acquisition of PrestaShop.
The project is an example of a complex cross-border transaction in the technology industry, combining elements of an international acquisition, a joint venture structure and a multi-stage integration of businesses based on an open-source model.
IT M&A transaction – structure and scope
The transaction included:
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Acquisition of an entity operating in the European market,
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Arranging joint venture ownership relations,
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use of a dedicated SPV,
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Designing mechanisms for technological and organizational integration.
From a legal perspective, the project required a precise structuring of M&A transactions in the IT sector, taking into account both corporate issues and the parties’ long-term business goals.
Control of concentration – proceedings before the OCCP
The finalization of the transaction was subject to the approval of the President of the OCCP as part of concentration control.
We represented clients in proceedings before the competition authority, coordinating regulatory and transactional activities in parallel until closing. The smooth execution of the process required close cooperation between legal and business teams and a precise timetable of activities.
Acquisitions in the e-commerce sector – building a European ecosystem
The deal went beyond a classic acquisition in the e-commerce sector.
It represents an important step in the consolidation of the European market for open-source e-commerce platforms. Sylius and BitBag have been developing technology solutions used by thousands of developers and entrepreneurs around the world for years.
After the merger of the entities, the joint ecosystem generates about €35 billion in annual GMV and serves more than 700,000 companies globally. The project strengthens the position of European open-source solutions in the Western European market and is an example of strategic consolidation in the IT sector.
Scope of advice from DSK – M&A and competition law
Our consulting included:
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structuring M&A transactions,
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Preparation and negotiation of transaction documentation,
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Consulting on acquisitions in the IT sector,
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Representation in concentration control proceedings before the OCCP,
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coordination of the closing process.
The project was led by Kinga Nowak with the support of Ewelina Switalska, Bartosz Glogowski, Milosz Mistun, Sandra Winiecka and Karol Olejnik.
Advising on M&A transactions in the IT and e-commerce sectors
M&A transactions in the technology industry require a combination of expertise in corporate law, competition law and knowledge of the specifics of business models based on software and digital platforms.
DSK Law Firm’s team supports entrepreneurs and investors in:
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acquisitions in the IT and e-commerce sectors,
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cross-border transactions,
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joint venture projects,
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Concentration control proceedings before the OCCP,
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post-trade integrations.
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If you are planning an acquisition, sale of a technology business or consolidation – contact our M&A team.
Kinga Nowak – transactional advisor, lawyer, DSK partner: k.nowak@dsk-kancelaria.pl
Ewelina Świtalska – transactional advisor, lawyer, DSK manager: e.switalska@dsk-kancelaria.pl
