POELLATH advised the “Release 42” group on the sale to WIIT S.p.A.
POELLATH advised the “Release 42” group, which comprises the operating companies Boreus GmbH (“Boreus”) and Gecko Gesellschaft für Computer und Kommunikationssysteme m.b.H. (“Gecko”), on the sale to WIIT S.p.A. (“WIIT”), a leading European cloud computing provider for enterprises.
Release 42 focuses primarily on e-commerce platforms and applications that are critical for business and require system stability. This is guaranteed by operating two of its own data centers. The company provides private and hybrid cloud services for the most important German e-commerce companies, with which the group has had strategic relationships for over 15 years.
Italy-based IT company WIIT is a leading European provider for business application outsourcing for medium and large enterprises and data center functions. It also specializes in providing hosting services, host sub-solutions, private cloud, disaster recovery, and application service provider (ASP) and business continuity methodology services. The WIIT Group is working to integrate a variety of specializations in Germany that are not yet considered fully covered and is investing significantly in technology infrastructure with the aim of opening its first German Tier 4 data center in the first half of 2022.
Following the acquisition of myLoc at the end of 2020 and Mivitec in July 2021, this transaction represents another significant step for the Cloud4Europe project launched by WIIT Group as part of its acquisition-driven growth strategy.
POELLATH provided comprehensive legal advice to Release 42 within the context of the transaction with the following Munich team:
- Otto Haberstock (partner, M&A/private equity).
- Dr. Matthias Bruse (partner, M&A/private equity)
- Angelina Seelbach (senior associate, M&A/private equity)
- Moritz Löffler (associate, M&A/private equity)
