On February 26, 2021, CEE Legal Matters reported that Kocian Solc Balastic had advised Solitea on the acquisition of the IT Services division of Czech company AspectWorks. CEEIHM spoke with Martin Cigler, Chief Executive Officer at Solitea, to learn more about the deal.
CEEIHM: Could you tell us a bit about Solitea’s backstory?
Martin: Solitea was established seven years ago when the Sandberg Capital investment fund was merged with my company. The goal was to form a financial background for rapid acquisition growth, and this plan succeeded.
CEEIHM: Kocian Solc Balastik recently advised your company on its acquisition of AspectWorks’ IT Services division. What made their division particularly attractive for acquisition?
Martin: There were several reasons. Aspect Works represents SalesForce on the Czech market, and, for us, this acquisition is a ticket to this business and an extension of our portfolio. In addition, Aspect Works employs dozens of excellent experts in the technologies we have been using, and, through these teams, we will be able to increase our capacity and efficiency.
CEEIHM: What are Solitea’s next steps following this transaction?
Martin: If you are asking about the integration of Aspect Works into Solitea, these steps are quite natural: internal integration of the entire team into our structure, brainstorming over synergies, and defining KPIs. And, Aspect Works is about to move to our premises. From a medium-term perspective, we are preparing a merger of Aspect Works with Solitea, which will facilitate further steps and simplify internal company processes.
If you are asking about Solitea's next steps, we are looking for other interesting acquisition targets.
CEEIHM: What were some of the legally demanding aspects of this deal and how did KSB handle them?
Martin: Probably the most difficult problem was that we were not going to buy the whole company, but only a part of it. The split-off is an inseparable part and a condition precedent for the entire transaction. This situation was new for us and KSB guided us very well.
CEEIHM: Finally, what made you choose KSB as your advisor?
Martin: As far as transactions are concerned, we have been working with KSB for seven years and our experience is excellent. They understand our needs, often we let them negotiate some legal issues with the other party directly because they know our position and standards. This simplifies our work and speeds up the transaction process. That's why we didn't even think about choosing another law firm.