M&A WATCH: EASTERN EUROPE – AUGUST 2021 COVERAGE
Our monthly M&A Watch spotlights deals in the Information Technology industry throughout Eastern Europe.
This month, we highlight 4 deals across Eastern Europe within the IT Services and Software verticals. Notably, there were several active strategic buyers including WPP and Checkin.com (STO: CHECK). The overall deal count decreased during the month of August due to the holiday season across Europe. However, 7MA was still able to have several conversations with a number of European private equity and strategic buyers to gauge where buyers’ minds will be coming out of the holiday and noted there is continuing interest in acquiring assets in Europe. In conclusion, Eastern Europe remains an attractive market given the high concentration of IT/Software talent, timezone advantage, and agile delivery methods.
WPP, a creative transformation company, has acquired Satalia, a technology company located in the UK and Lithuania. Satalia is a global leader in enterprise AI that builds technologies that help clients transform their business strategies and radically improve operational efficiency. Satalia will join Wunderman Thompson Commerce and strengthen the global e-commerce consultancy’s technology proposition. #Lithuania # E-commerce #AI
Bittnet (BNET), a group of IT companies listed on the Main Market of the Bucharest Stock Exchange, announced the signing of new investment in ITPrepared, an advisory and implementation partner for digital enablement and disruption through technology. Following the transaction, Bittnet Group holds a majority stake of 50.2% in ITPrepared, which will be integrated into the technology division of Bittnet Group. #ManagedServices #BigData #Romania
Checkin.com Group, one of the leading technology firms, has entered into an agreement with GetID to acquire all shares in the Estonia-based identity verification platform. GetID is an all-in-one identity verification service that streamlines a company’s onboarding process. According to the details of the deal, the purchase price amounts to a total of €8.1 million. Approximately €5.5 million is being paid in Consideration Shares in Checkin.com Group and €2.6 million is being paid in existing cash and cash equivalents. #Estonia #IdentityVerification #AML
Shoper has purchased 100% of shares in Shoplo Sp. z o.o. The acquisition will merge two platforms that rank among the most popular e-commerce solutions for running online shops in Poland. Shoper offers a regionally popular SaaS e-commerce and payments platform, which enables its merchant customers to operate an online storefront wile paying Shoper on a subscription basis. The acquisition of the competitive Shoplo platform is expected to lead to synergies and influence the dynamic development of the company. #E-commerce #SaaS #Poland
About 7 Mile Advisors
7MA provides specialized Investment Banking & Advisory Services to the professional service firms in the Consumer Products & Retail industries. We help our clients determine the right strategic partners for their businesses, transition ownership, raise capital, grow through acquisitions, and evaluate new markets. We advise our clients on M&A and private capital transactions, and provide unique market insights. Our team brings experience and energy to all of our engagements, with a focus on helping our clients navigate a changing marketplace.
To learn more about how 7 Mile Advisors can help you evaluate and execute on strategic M&A or private capital alternatives for your business, please visit our website www.7mileadvisors.com.
