Bitly’s Acquisition of Egoditor GmbH

CMS advised FLEX Capital on the deal, while Latham & Watkins advised Bitly.

FLEX Capital, a private equity investor focusing on mid-market software and Internet companies in the German-speaking countries, has sold the majority of its shares in Egoditor GmbH.

Egoditor is the market leader for QR code software.

The acquirer of the majority stake is Bitly Inc., the world’s most widely used URL shortening service. Together with the founders, FLEX will reinvest a substantial portion of the purchase price in Bitly. Over the previous two years, FLEX and the founders increased sales by around 250% to more than EUR 30 million in annual recurring revenues, boosted profitability further and made Egoditor a global provider of QR code software.

The CMS team included Dr Jörg Zätzsch (Picture), Lead Partner, Corporate / Venture Capital, Berlin; Jesko Nobiling, Lead Partner, Corporate / Tax, Berlin; Dr Dirk Baukholt, Counsel, Corporate, Frankfurt/Main; Dr Friedrich von Spee, Counsel, Berlin; Dr Martin Eichholz, Senior Associate, Berlin; Charlotte-Sophie Unger, Associate, Berlin, all Corporate / Venture Capital; Dr Rolf Hempel, Partner, Competition, Stuttgart.

Latham’s corporate team was co-led by Boston partner Ryan McCarthy and Frankfurt/Munich partner Sebastian Pauls, with Munich associates Hendrik Ley, Chris Freitag, Boston associate Laki Triantafylidis, and Hamburg associate Edward Martin. Advice was also provided on finance matters by Munich partner Thomas Weitkamp, New York counsel Seniz Yakut, New York associate Jacob Sikora, and Frankfurt associate Martina Eisgruber; on tax matters by Munich partner Stefan Süß and associate Philipp Lauer with Los Angeles partner Larry Stein; on employment matters by Munich partner Tobias Leder and associate Christian Strauß; on real estate matters by Frankfurt partner Otto von Gruben; on IP matters by Frankfurt partner Susan Kempe-Müller and associate Pia Sösemann; on regulatory matters by Frankfurt counsel Joachim Grittmann; and on antitrust matters by Frankfurt partner Max Hauser and associate Alisia Haber, with Washington, D.C. counsel Patrick English.

Involved fees earner: Dirk Baukholt – CMS Hasche Sigle; Martin Eichholz – CMS Hasche Sigle; Rolf Hempel – CMS Hasche Sigle; Jesko Nobiling – CMS Hasche Sigle; Charlotte-Sophie Unger – CMS Hasche Sigle; Friedrich von Spee – CMS Hasche Sigle; Jörg Zätzsch – CMS Hasche Sigle; Patrick English – Latham & Watkins; Chris Freitag – Latham & Watkins; Joachim Grittmann – Latham & Watkins; Alisia Maria Haber – Latham & Watkins; Sebastian Max Hauser – Latham & Watkins; Ipek Seniz Yakut – Latham & Watkins; Susan Kempe-Mueller – Latham & Watkins; Philipp Lauer – Latham & Watkins; Tobias Leder – Latham & Watkins; Hendrik Ley – Latham & Watkins; Edward Martin – Latham & Watkins; Ryan McCarthy – Latham & Watkins; Sebastian Pauls – Latham & Watkins; Jacob Sikora – Latham & Watkins; Pia Sophie Sösemann – Latham & Watkins; Laurence Stein – Latham & Watkins; Christian Strauß – Latham & Watkins; Stefan Süss – Latham & Watkins; Laki Triantafylidis – Latham & Watkins; Otto von Gruben – Latham & Watkins; Thomas Weitkamp – Latham & Watkins;

Law Firms: CMS Hasche Sigle; Latham & Watkins;

Clients: Bitly, Inc.; Flex Capital;

Federica Tiefenthaler

Author: Federica Tiefenthaler