Press release - 21 October 2024
A CMS Vienna team led by partner Florian Mayer provided comprehensive legal advice to the owners of Austrian data & AI service provider PASO Solutions in the context of its acquisition by Dataciders, a leading provider of data & AI solutions with more than 850 employees in Germany, Austria and Bulgaria. The sale closed on 10 September 2024. The parties have agreed not to disclose the details of the transaction.
“We are pleased that we got to advise the sellers on this forward-looking move, and that our interdisciplinary expertise and experienced team contributed to successfully closing the deal," said Florian Mayer, a partner at CMS Vienna and member of the Corporate Transactions team.
Headquartered in Hohenzell, PASO Solutions develops and implements customer-specific software solutions in data & AI, leveraging domain expertise and the capacity to deliver end-to-end solutions. Together with Dataciders, PASO provides customised solutions to turn data-based decisions into a true competitive edge. It also offers services for data management, data integration and real-time monitoring. A recognised IT service provider, PASO has now been acquired by the Dataciders Group, which aims to sustainably drive its growth and further expand its presence in Germany, Austria and Switzerland.
The CMS team provided extensive legal advice on all aspects of the transaction, in particular negotiating the purchase agreement and the future involvement of the PASO Solutions team. In addition to lead partner Florian Mayer (Corporate/M&A), the transaction team included partner Lukas Peissl (Corporate Litigation), senior associate Thomas Aspalter (Tax), associate Rebecca Herlitz (Corporate/M&A) and associate Sebastian Aschl (Corporate Litigation). The buyer side was advised by Hermann Schneeweiss (Schneeweiss Weixelbaum Rechtsanwälte GmbH).
