CMS advised FreshBooks on the deal, while DLA Piper advised the shareholders of FastBill.
FreshBooks, a leading provider of cloud-based accounting software with customers in more than 160 countries which is headquartered in Toronto (Canada), has acquired FastBill, one of the leading cloud solutions for accounting and invoicing in Germany. The transaction has already been completed. The financial terms of the deal were not disclosed.
FastBill was established in Frankfurt/Main in 2011. It helps the self-employed, small businesses and start-ups to gain better control of their finances through digital invoice management, reporting and access to tax advisory services. FastBill currently has customers in 16 European countries.
FreshBooks is an accounting platform geared towards business owners. It offers an easy-to-use approach to managing finances, billing, payments and client engagement. The company serves customers of all sizes from offices in Canada, Croatia, Mexico, the Netherlands and the US. FreshBooks recently completed a round of financing that raised USD 130 million.
The CMS team included Dr Jörg Lips (Picture – Lead Partner, Leipzig/Frankfurt am Main), Dr Christoph Löffler (Senior Associate, Leipzig), Benedikt Pittrof (Senior Associate, Leipzig), Kevin Schmidt (Associate, Leipzig, all Corporate/M&A), Jesko Nobiling (Partner, Berlin, Tax), Dr Markus Kaulartz, (Counsel, Munich, TMC), Annika Lindemann (Senior Associate, Munich, Intellectual Property), Dr Antje-Kathrin Uhl (Partner, Stuttgart), Dr Anja Naumann (Counsel, Leipzig), Sven Groschischka (Associate, Leipzig), Luca Michilli (Associate, Stuttgart, all Labor, Employment & Pensions) and Phillip Bubinger (Senior Associate, Cologne, Commercial).
The DLA Piper team was led by partner Simon Vogel and counsel Dr Christoph Dachner (both Corporate/Private Equity, Munich). In addition, partners Pascal Kremp (Employment, Munich) and Dr Konrad Rohde, counsel Dr Raimund Behnes (both Tax, Frankfurt) as well as associates Dr Felisa Frey (Employment) and Oliver Schmidt (Corporate/Private Equity, both Munich) were involved.
Involved fees earner: Phillip Bubinger – CMS Hasche Sigle; Sven Groschischka – CMS Hasche Sigle; Markus Kaulartz – CMS Hasche Sigle; Annika Lindemann – CMS Hasche Sigle; Jörg Lips – CMS Hasche Sigle; Christoph Löffler – CMS Hasche Sigle; Luca Michilli – CMS Hasche Sigle; Anja Naumann – CMS Hasche Sigle; Jesko Nobiling – CMS Hasche Sigle; Benedikt Pittrof – CMS Hasche Sigle; Kevin Schmidt – CMS Hasche Sigle; Antje-Kathrin Uhl – CMS Hasche Sigle; Raimund Behnes – DLA Piper; Christoph Dachner – DLA Piper; Felisa Frey – DLA Piper; Pascal Kremp – DLA Piper; Konrad Rohde – DLA Piper; Oliver Schmidt – DLA Piper; Simon Vogel – DLA Piper;