Assistance on another IT transaction01/12/22 / News
KSB’s team (Drahomír Tomašuk, Ján Béreš, Pavel Dejl, Martin Vráb, Karolina Vosátková) recently assisted our long-term client, Solitea, in another IT acquisition.
This time Solitea focused on expansion in the Slovak market, acquiring vehicle monitoring company Commander Services.
Commander Services was established in 2005 and has since become the Slovak leader in the GPS vehicle monitoring segment, providing comprehensive solutions for customers, including electronic logbooks, fuel cards, automatic tachograph data downloads, active vehicle monitoring and more. The company has four branches in Slovakia and two in the Czech Republic.
KSB advised on the Czech aspects of the transaction and included the preparation of the merger clearance proposal, due diligence on the Czech aspects of Commander Software, and furthermore preparation of contractual provisions relating to the coverage of risks associated with the software rights. The transaction advisory in Slovakia was managed by AK Relevans.
For more information on this transaction, please see Solitea's press release or media coverage, for example here.
As of December 1, 2022, Solitea will be renamed Seyfor. Martin Cígler, CEO of the company, explains the reason for the rebranding: “We want to be clear to customers around the world, and the name Seyfor will not limit us on new markets by being similar to the name of local companies." For more details, see the press release. On behalf of all of KSB’s team, we wish Seyfor just as much success under its new name as it has had so far.