GESSEL advised Etteplan Oyj, a publicly listed Finnish company, on its most recent acquisition in which it purchased a 100% stake in the software company Skyrise.Tech.

Thanks to this transaction, Etteplan stands to significantly boost its capabilities, and its competitiveness, in cloud-based computing and apps, both in Poland and globally.

GESSEL was involved in all stages of the transaction, including drafting the letter of intent, due diligence, negotiation and drawing up of the transaction documentation, and closing.

For our part, the project was led by Krzysztof Jasiński, managing associate, assisted by Dr. Bartłomiej Woźniak, managing associate, and associates Magdalena Mirkowska and Edyta Mastalerek.

Due diligence of the target was performed by the team led by Karolina Krzal-Kwiatkowska, managing associate, composed of Agnieszka Nowacka, senior associate and associates Aleksandra Głuszek, Magdalena Mirkowska and Karolina Sobóla.

Overall supervision on the GESSEL’s side was ensured by Marcin Macieszczak, managing partner.

Skyrise.Tech, established in 2008, specialises in software development, mainly for clients from the logistics, mobility and healthcare sectors. Its revenues for 2020 were approximately EUR 3.5 mln; its workforce comprises almost 80 programming specialists.

Etteplan is a provider of engineering services, integrated systems, Internet of Things solutions, and technical documentation solutions to some of the world’s leading companies. Its turnovers for 2020 reached EUR 260 mln; apart from its native Finland, where it is listed on the Helsinki Stock Exchange, it maintains a presence in Sweden, Holland, Germany, Poland, Denmark, and China.