Hamburg – XING SE is acquiring Honeypot GmbH, a job platform for IT specialists, with immediate effect. The base purchase price is EUR 22 million. This may increase by earn-out payments of up to EUR 35 million if operating targets are achieved within the next three years. The transaction is the biggest of its kind in the history of the XING professional network. XING will use the acquisition to expand its product range and develop its international presence outside the German-speaking world.
An international CMS team headed by lead partner Dr Hilke Herchen once again advised XING SE on all legal aspects of the complex transaction. The company regularly relies on the team’s expertise in transactions. The acquisition of Honeypot marks the fourth transaction on which CMS has advised XING.
XING describes itself as a leading social network for professional contacts in the German-speaking countries. The Hamburg-based company was established in 2003. It has been listed on the stock exchange since 2006 and a member of the TecDax since 2011. In addition to Hamburg, XING operates locations in Munich, Barcelona, Vienna, Porto, Valencia and Zurich.
Honeypot is headquartered in Berlin. It claims to be the largest tech-focused job platform in the German-speaking countries and also has a presence in the Netherlands. Founded in 2015, the start-up connects IT specialists with the companies that need them. Honeypot will continue to operate as an independent business unit under the existing brand.
Dr Hilke Herchen, Lead Partner
Dr Frederike Volkmann, Senior Associate
Maximilian Pfaller, Associate
Omed Asmatyar, Associate, all Corporate / M&A
Dr Malte Grützmacher, Partner
Martin Kilgus, Senior Associate, both TMC
Jürgen Siemers, Partner, Labor, Employment & Pensions
Alexander Borchers, Senior Legal Consultant
Albert Fischer, Senior Legal Consultant
Birgit Wagner, Senior Legal Consultant
Steven Washington, Legal Consultant
Stephanie Schulz, Legal Consultant, all Smart Operations
Christian Delgado, Counsel
Fieke van Berkel – van der Meer, Associate
Jan Peter Ijspeert, Associate
Stephanie Dekker, Associate
Ravi van den Boomen, Associate
Simon Sanders, Associate
Yasar Celebi, Associate, all Corporate / M&A
Inhouse at XING
Kai-K. Hollensteiner (General Counsel, Lead)
Johannes Greef (Associate General Counsel)