CMS advises Proact on BlakYaks acquisition
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CMS has advised Proact IT Group (Nasdaq Stockholm: PACT), Europe’s leading specialist in data and information management with focus on cloud services and data centre solutions, on its acquisition of UK consulting company BlakYaks.
Founded in 1994, Proact helps their customers to store, connect, protect, secure and drive value through their data whilst increasing agility, productivity and efficiency.
Proact employs over 1,200 people in 12 countries across Europe and North America. This acquisition strengthens Proact’s presence in the UK and expands its hybrid cloud services expertise and offering.
The transaction includes an initial consideration of £16m, on a cash- and debt-free basis, and a potential earn-out of up to £11m, subject to the achievement of certain financial targets, payable over the period 2025–2027.
Katie Nagy de Nagybaczon, Corporate Partner at CMS comments: “We are thrilled to have advised Proact on this strategic acquisition of BlakYaks. The synergy between Proact and BlakYaks will undoubtedly drive innovation, and we look forward to seeing the impact this acquisition will have on Proact's growth and market presence.”
The CMS team was led by Katie Nagy de Nagybaczon and included James Dooling and Cameron Finlay-Hylton (Corporate); Cathy Merry and Imogen Rohrs (Employee Incentives); Robert Sartor (Tax); Mark Walker and Sarah Judge (Employment); and Paul Silver (Commercial).
With more than 1,400 lawyers in over 80 offices worldwide, including over 250 based in the UK, the CMS Corporate practice has established itself as a leader in advising on strategic deals within the technology sector. With a deep understanding of the complexities and nuances of the industry, CMS has successfully guided numerous high-profile transactions, including mergers and acquisitions, outsourcing contracts, and cloud computing agreements.
