Peakwork AG sells to Canadian Constellation Software

Munich — The publicly traded Cana­dian company Constel­la­tion Soft­ware, Inc. acqui­red all shares in Peak­work AG in Düssel­dorf. Previous owners of Peak­work were company foun­der Ralf Usbeck and other members of the manage­ment team as majo­rity share­hol­ders as well as the private equity fund Brock­haus and TUI Betei­li­gungs GmbH. Finan­cial details of the acqui­si­tion were not disclosed.

Foun­ded in 2009, German company Peak­work deve­lops distri­bu­tion systems used by airlines, tour opera­tors and online travel agen­cies. Its product enables travel suppli­ers to access these services for sale to custo­mers. Peak­work, with appro­xi­m­ately 150 employees, will become part of Vela Soft­ware, one of Constel­la­tion Software’s six busi­ness units. The company will operate inde­pendently and stres­sed that there will be no inter­rup­tion of services.

Toronto-based Constel­la­tion is a publicly traded, global conglo­me­rate of soft­ware compa­nies in a variety of industries.

POELLATH provi­ded compre­hen­sive legal advice to the sellers in the context of the tran­sac­tion as lead coun­sel for the seller side with the follo­wing team:

Phil­ipp von Braun­schweig (photo), LL.M. (Ford­ham) (Part­ner, Lead Part­ner, Corporate/M&A, Munich)
Dr. Nico Fischer (Part­ner, Tax Law, Munich)
Daniel Wied­mann, LL.M. (NYU) (Asso­cia­ted Part­ner, Anti­trust Law, Frankfurt)
Dr. Andreas Reuther (Asso­cia­ted Part­ner, Employ­ment Law, Munich)
Chris­tine Funk, LL.M. (Coun­sel, IT, Frankfurt)
Dr. Matthias Meier (Senior Asso­ciate, M&A/Corporate, Munich)
David Lübke­meier, LL.M. (UCL) (Asso­ciate, Corporate/M&A, Munich)
Andreas Gesell (Asso­ciate, Tax Law, Munich)

POELLATH had alre­ady advi­sed inves­tor Brock­haus on its entry in 2017 and now recei­ved the trust of all sellers as lead coun­sel for the transaction.

Advi­sors to Constel­la­tion Soft­ware, Inc.: Taylor Wessing Hamburg
Dr. Jan Riebeling

Advi­sor TUI: Mayer Brown Düsseldorf
Dr. Jan Streer

As well as Mareike Acker­mann (in-house) involved.