Gleiss Lutz has advised the listed company GFT Technologies SE on the acquisition of 100% of the shares in targens GmbH from Landesbank Baden-Württemberg (LBBW). Closing of the transaction is subject to approval by the relevant antitrust authorities and is scheduled for the beginning of Q2 2023.
targens GmbH is a consultancy firm specialising in banking, compliance and digital innovation. It also developed the SMARAGD Compliance Suite, a specialist compliance software solution that helps companies combat criminal activity and avert damage. The software is already being used by targens clients not only in Germany, Austria and Switzerland, but also in a further 56 countries worldwide. targens' clients include seven of the ten largest German banks. In 2021, it generated revenue of EUR 44.0 million with around 300 experts at four locations in Germany and Austria.
GFT shapes the digital transformation of leading global companies in the finance, insurance and industrial sectors. The company develops sustainable solutions based on new technologies, including artificial intelligence and blockchain/DLT. In 2022, GFT generated global revenue of around EUR 730 million with a team of over 10,000 experts.
In-house, the acquisition is being handled by Thomas Nüßeler (Head of Group Legal) and David Mezger (Manager Mergers & Acquisitions).
The following team of Gleiss Lutz lawyers advised GFT Technologies SE: Dr. Jochen Tyrolt (lead, partner), Johannes Schrägle (lead, counsel), Dr. Johannes Culmann (counsel), Dr. Bosede Staudenmayer (all M&A, all Stuttgart), Dr. Ocka Stumm (partner), Julian Kettemer (both Tax, both Frankfurt), Dr. Philipp Pichler (counsel, Competition/Antitrust), Dr. Frank Merten (counsel, Employment), Dr. Herwig Lux (counsel), Dr. Christopher Noll (both IP/IT, all Stuttgart), Dr. Manuel Klar (Data Protection, Munich).
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