GESSEL advises cyber_Folks on the acquisition of PrestaShop

GESSEL advised cyber_Folks S.A., a leading e-commerce technology provider in Central and Eastern Europe listed on the Warsaw Stock Exchange, on its acquisition of 100% of the shares in PrestaShop, a French company serving approximately 230,000 active online stores across France, Spain, Italy, the United Kingdom and the United States and one of the world’s largest open-source e-commerce platforms. The transaction, with a value of approximately EUR 53 million, was performed through a special purpose vehicle, cyber_Pixel.

In parallel, cyber_Folks executed investment documentation concerning contribution of two Polish technology companies, Sylius and BitBag, to cyber_Pixel. Both companies provide open-source solutions used in large-scale enterprise projects. The founders of Sylius will acquire a 21% equity stake in cyber_Pixel, while cyber_Folks will retain a 79% shareholding.

The integration of PrestaShop into the group, combined with the Sylius and BitBag solutions, enables cyber_Folks to build one of the most comprehensive e-commerce technology ecosystems in Europe. PrestaShop brings global scale and a strong market position in key Western European markets and the United States, while Sylius provides advanced technological capabilities for complex projects based on headless and composable commerce architectures. Integration of such technologies lays the foundation for accelerated expansion of cyber_Folks across European and U.S. markets. The total GMV generated within the combined ecosystem amounts to approximately EUR 35 billion.

“This is a landmark project for us, opening the door for the cyber_Folks Group to global expansion and to development of the most comprehensive technological solutions for e-commerce. We highly value the professionalism and commitment of the GESSEL team, which ensured an efficient transaction process and effective support at every stage,” said Robert Stasik, CFO of cyber_Folks.

“This project goes beyond the standard framework of an M&A transaction, having a tangible impact on shaping the e-commerce technology landscape in Europe. Supporting cyber_Folks in such a significant undertaking confirms GESSEL’s expertise in handling complex transactions in the new technologies sector. We are pleased that our experience contributed to the successful execution of such an ambitious project,” said Karol Sokół, Partner at GESSEL.

GESSEL provided cyber_Folks with comprehensive legal advice across all aspects of the transaction, including legal due diligence, preparation and negotiation of transaction documentation, regulatory advice relating to capital markets, as well as obtaining antitrust clearance in Poland. As regards the French law aspects, GESSEL cooperated with Ashurst.