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CERHA HEMPEL advises GBTEC on the acquisition of all shares in avedos, a Vienna-based GRC software specialist

GBTEC Software + Consulting AG has expanded its offerings in the area of governance, risk and compliance (GRC) through the acquisition of all shares in avedos GRC GmbH.

GBTEC Software + Consulting AG, a software company based in Germany specializing in digital transformation and business process management and backed by software investor Main Capital Partners, has expanded its offerings in the area of governance, risk and compliance (GRC) through the acquisition of all shares in avedos GRC GmbH, a provider of GRC products, and in this way continues to focus on growth in spite of the crisis caused by the COVID-19 pandemic.

The shares in avedos were acquired through direct and indirect share purchases and by means of a contribution by Samuel Brandstätter – the founder, managing director and shareholder of avedos – who took equity in GBTEC as part payment for the sale of his stake in avedos. This rollover underscores Brandstätter's continued commitment to avedos and his belief that their mutual future is promising.

Despite the extremely difficult circumstances resulting from the COVID-19 pandemic, the transaction was carried out in the space of just a few weeks and has been made possible by teams of attorneys at CERHA HEMPEL in Austria and Deloitte Legal in Germany, all of whom were working from home.

The team at CERHA HEMPEL advising on the transaction included:

Dr. Albert Birkner, LL.M. (Lead Counsel, Partner, Corporate), Mag. Martin Eichinger (Senior Associate, Corporate), Jakob Weber, LL.M. (Associate, Corporate), Dr. Katharina Majchrzak (Counsel, IP), Dr. Franziska Paefgen, LL.M. (Senior Associate, IT & Privacy) and Ing. Mag. Boris Treml, LL.M. (Associate, IT & Privacy).

The team at Deloitte Legal included:

Felix Felleisen (Partner, Dutch Desk, Corporate | M&A, Dusseldorf, Lead), Max Lüerßen (Counsel, Corporate | M&A, Dusseldorf, Co-Lead).