POELLATH advises TIMETOACT Group on the acquisition of Trustbit

Munich — The TIMETOACT GROUP (“TIMETOACT”), a leading provi­der of IT services for the upper midmar­ket, corpo­ra­ti­ons and public insti­tu­ti­ons and a port­fo­lio company of the funds advi­sed by Equis­tone Part­ners Europe, has acqui­red SWP Soft­ware­park GmbH, which opera­tes under the Trust­bit brand. The former Trust­bit Mana­ging Direc­tor Jörg Egretz­ber­ger will become Co-Mana­­ging Direc­tor of the TIMETOACT GROUP Austria as part of the merger and will become a share­hol­der in the TIMETOACT Group. The parties have agreed not to disc­lose details of the tran­sac­tion. POELLATH advi­sed TIMETOACT on the legal aspects of the acquisition.

Trust­bit, based in Vienna (Austria), is an IT consul­ting company for digi­tal trans­for­ma­tion and the deve­lo­p­ment of digi­tal busi­ness models. The company supports its cross-indus­­try custo­mer base in the busi­ness areas of custo­­mer-speci­­fic deve­lo­p­ment of custo­mi­zed soft­ware, machine lear­ning & data science and IT consul­ting. Trust­bit employs around 50 people at 3 Austrian locations.

TIMETOACT is a leading provi­der of IT services, prima­rily for medium-sized and large compa­nies in the indus­trial, finan­cial and service sectors as well as public sector orga­niza­ti­ons. The company compri­ses seve­ral specia­li­zed IT compa­nies at 17 loca­ti­ons in Germany, Austria and Switz­er­land as well as in Latvia, Malay­sia, Singa­pore and the USA. TIMETOACT employs over 1,250 people and has a compre­hen­sive port­fo­lio of soft­ware and consul­ting services. The acqui­si­tion of Trust­bit is the eighth successful acqui­si­tion since the funds advi­sed by Equis­tone Part­ners Europe acqui­red a majo­rity stake in June 2021 and marks another important growth step for TIMETOACT.

POELLATH advi­sed TIMETOACT on the acqui­si­tion with the follo­wing Munich-based team:
Dr. Bene­dikt Hohaus, Photo © Poellath (Part­ner, Manage­ment Participations)
Nemanja Burgić, LL.M. (Coun­sel, Lead Part­ner, M&A/Private Equity)
Dr. Verena Sten­zel (Coun­sel, M&A/Private Equity)
Jan Lukas Jung­claus, LL.M. (Stel­len­bosch) (Asso­ciate, Manage­ment Participations)