The act MPH Advocates team comprehensively covered the entire due diligence process. Our team participated in the negotiation process and managed the communication with all parties. The project also included the drafting of transactional and contractual documentation.
The acquisition project of a payment services licensee represents unique know-how from a regulatory perspective. In addition to the complex M&A process, our team also covered complex legal advice and services related to specific financial market regulations, transaction structuring and tax advice.
Three investment partners
act MPH Advocates was involved in the drafting of three separate majority share purchase agreements representing the interests and terms of the three parties. The investment transaction also included the transfer of part of Tapeon’s payment terminal intermediation business to Pay Solutions.
“act MPH advocates has provided legal advice and its other services to major innovators and investors in the payment solutions sector in Central Europe. The outcome of this strategic acquisition confirmed our expertise and ability to close challenging transactions in the technology sector and in the international space,”said Mgr. et Mgr. Katarína Kasalová, partner at act MPH Advocates, who led the expert legal team.
The shared vision of this acquisition is to expand technology and products into the CEE region. Pay Solutions’ Besteron payment gateway is used by approximately 1,500 online merchants. PaySolution is expected to process payments of over €400 million in 2022. The acquisition by Solitea will bring a number of innovations to the market for modern payment gateways – for example, disbursement in 32 EU countries in 12 currencies.
“I am delighted that we have chosen to work with act MPH advocates on this strategic transaction,” said Martin Skaba, of Sandberg Capital, the majority owner of Solitea. “They are among the best in the market – not only in the breadth of their knowledge and experience but also in their combination of expertise in other areas. What we particularly value about working with act MPH Advocates is their team’s ability to see issues in a broader context, their high level of professionalism and business insight into our business activities,”added Martin Skaba
The act MPH advocates team that provided legal advice on this acquisition was led by Mgr. et Mgr. Katarína Kasalová, partner of act MPH advocates. Mgr. Jana Alušíková, Mgr. Jana Vasilova, Mgr. Patrik Budke and Mgr. Andrea Mochorovská.
About act MPH advocates
act MPH advocates is a renowned law firm with more than 15 years of experience on the market. The experienced expert team creates a strong legal background for clients for long-term investments with international reach, as well as for day-to-day decisions. act MPH advocates is part of the act legal alliance, which houses over 400 lawyers, financial, tax and business advisors working in 11 law firms spannning 9 European countries. act MPH advocates is a multiple winner in the Law Firm of the Year competition and has repeatedly been awarded Law Firm of the Year in the categories of Telecommunications, Information Technology Law and Litigation.
Solitea, a.s., is one of the major European suppliers of ICT solutions for commercial entities and state administration. The company employs more than 1,400 people in seven countries and serves more than 260,000 customers in 35 countries worldwide.
About SANDBERG CAPITAL
Sandberg Capital is a Slovak asset management company that focuses on investing in smaller and medium-sized companies in Slovakia and the CEE region. In its two funds, it manages assets with a value of more than EUR 340 million, which it invests primarily in the IT, telecommunications, agriculture, education and retail sectors.
About PAY SOLUTIONS
Pay Solutions a.s. provides comprehensive payment solutions for merchants – online card payments with the ability to accept payments from all over the world, online transfers from Slovak and Czech banks and POS terminals.
Tapeon operates on the market as an official ISO certified partner of Visa and Mastercard. Through its partners, it is a supplier of solutions for stand-alone operations, retail networks, self-service kiosks and e-shops. It primarily develops its business activities in 3 markets – Slovakia, the Czech Republic and Slovenia.