GESSEL advises cyber_Folks on the completion of the acquisition of PrestaShop and the integration of Sylius and BitBag

GESSEL advised cyber_Folks, a leading e-commerce technology provider in Central and Eastern Europe listed on the Warsaw Stock Exchange, on the completion of the acquisition of 100% of the shares in PrestaShop, a French company and one of the world’s largest open-source e-commerce platforms. The transaction was performed through cyber_Folks’ subsidiary, cyber_Pixel, with the purchase price amounting to approximately EUR 54 million. In parallel, the contribution of Sylius and BitBag to cyber_Pixel was completed, both companies providing open-source technology solutions used in large-scale enterprise projects.

The completion marks a key milestone in cyber_Folks’ strategy to build a pan-European e-commerce technology ecosystem. Following the integration of PrestaShop, Sylius and BitBag, the total GMV generated within the combined ecosystem amounts to approximately EUR 35 billion annually, with the customer base exceeding 700,000 businesses worldwide. PrestaShop, serving approximately 230,000 active online stores, combined with the Sylius and BitBag solutions, further strengthens cyber_Folks’ position in Western Europe and enhances the Group’s comprehensive technology offering.

“This project goes beyond the standard framework of an M&A transaction, combining a cross-border acquisition with a joint venture structure and a multi-stage integration of technology businesses. Supporting cyber_Folks through to successful completion confirms GESSEL’s expertise in handling complex transactions in the new technologies sector. We are pleased that our experience contributed to the effective execution of this significant project,” said Karol Sokół, Partner at GESSEL.

GESSEL provided cyber_Folks with comprehensive legal advice across all aspects of the transaction, including the preparation and negotiation of transaction documentation, investment structuring, competition and regulatory advice, including obtaining antitrust clearance in Poland, and coordination of the closing process. As regards the French law aspects, GESSEL cooperated with Ashurst.