Home / News / CMS successfully advises on the purchase of Fadat...

CMS successfully advises on the purchase of Fadata


CMS has successfully advised the Riverside Company - a global private equity firm - on the purchase of majority interest in Fadata.

Fadata is a leading IT company providing software solutions to the global insurance industry. Fadata's flagship product, end-to-end policy administration system (INSIS), is top rated in Gartner's reviews.

The agreement to acquire majority stake in Fadata was made by Riverside collectively with Charles Taylor plc, a public company quoted on the London Stock Exchange. The established joint venture between Charles Taylor, Riverside and the management of Fadata is aimed to accelerate further growth in the global technology market both of Fadata and all the parties involved.

“Attracting a global investor will allow Fadata to further strengthen its position as a global provider of IT solutions to the insurance sector. We are happy to see a company from our region succeed in expanding so vastly in so very different markets” says Marek Sawicki, a partner at CMS’s Warsaw Office.

“It is also an example of how legal advice can cross boundaries between jurisdictions – in this case, a transaction involving global players in the Bulgarian market was handled by a team of Polish lawyers. Knowledge of CEE markets has enabled us to follow the client to other jurisdictions in the region.”

Today Fadata - headquartered in Bulgaria - provides global distribution system and supports subsidiaries as well as partners' network in more than 30 countries. The company’s footprint includes UAE, Bahrain, Kuwait, Belgium, Nordics, Czech Republic, Estonia, Ethiopia, Greece, Hungary, Italy, Japan, Kazakhstan, Kosovo, Macedonia, Romania, Russia, Serbia, Croatia, Slovenia, Bosnia, Montenegro, Poland, Portugal, Spain, Turkiye, UK, Russia, Ukraine, Argentina, Columbia and the USA. This network successfully operates in countries across Europe, Middle East, Africa, Asia, and America.

In this transaction, the Riverside Company was advised by CMS’s in Warsaw and Sofia: Marek Sawicki, a partner co-heading the CMS Corporate Department in Warsaw, accompanied by Warsaw team consisting of Jakub Marcinkowski (partner) and Tomasz Waligórski (associate) in cooperation with Atanas Bangachev (partner), Alexander Rangelov (associate) and Zornitsa Georgieva (associate) from Bulgarian office of CMS.

Related people

Portrait of Atanas Bangachev
Atanas Bangachev
Portrait of Alexander Rangelov
Alexander Rangelov
Senior Associate
Marek Sawicki
Jakub Marcinkowski
Tomasz Waligórski
Zornitsa Georgieva
Show more Show less