KSB Advising Solitea on the acquisition of VASCO and Gesteem Society

The first is the acquisition of VASCO, a Slovenian IT company that is engaged in developing and selling IT enterprise systems. Vasco will become part of Slovenian company SAOP, which Solitea owns and which brings together companies operating on the Croatian, Slovenian and Serbian markets. The acquisition helps Solitea strengthen its presence in the Balkans. KŠB’s advice included drafting and fine-tuning the transaction documentation, and advice on corporate and competition issues, as the transaction was subject to the approval of the Czech and Slovenian competition authorities.

In the second case, Solitea acquired Gesteem Society, which operates in the Czech Republic, Slovakia and the Netherlands. Gesteem is a major supplier of so-called business intelligence solutions and data warehouses. In this acquisition, which is still subject to the approval of the Czech Competition Authority, we provided our client with complex transactional legal services.

Solitea is one of the largest suppliers of accounting and business information systems in the CEE region, has 1,400 employees, and has acquired a number of companies in recent years, often with KŠB’s support (recent acquisitions include Techniserv IT, Mainstream, Prytanis, AspectWorks, D3Soft, Axiom Provis, BI Experts, CDL SYSTEM, Clever Decision, Touchscreen, Dynamica, GEMMA Systems, Smart software, Vema and others).

More information on the VASCO acquisition can be found here or here, and on the Gesteem Society acquisition here.