DLA Piper has advised the Finnish telecommunications and digital services company Elisa on the acquisition of German-based industrial software provider camLine Group. As announced by Elisa, camLine Group will continue to operate as an independent subsidiary supported by Elisa’s resources in the future, and the existing management continues in their roles within the camLine Group.
The announcement by Elisa further states that the company, with core markets in Finland and Estonia, has already been present in the fast-growing smart manufacturing software market for several years delivering smart factory solutions. camLine is a software solution provider for the manufacturing of high-tech industries with a focus on manufacturing execution systems (MES), quality and operational excellence. The company has a global customer base, including semiconductor and electronics manufacturers, solar industry and medical devices.
According to Elisa the acquisition price is EUR60 million (EV EUR51 million) in cash. Further additional payments of up to a total of EUR4 million have been agreed if the targets for 2021-2023 are achieved.
The DLA Piper team was jointly led by partner Dr Mathias Schulze Steinen and senior associate Kristin Vogt-Schories (both Corporate/M&A, Frankfurt) and also involved partners Jan Pohle (Cologne), Dr Burkhard Führmeyer (both IPT), Dr Jens Kirchner (Employment), counsels Dr Raimund Behnes (Tax, all Frankfurt), Dr Thorsten Ammann (IPT, Cologne), senior associates Philipp Groll (Corporate/M&A, Frankfurt), France Vehar (Cologne), Miray Kavruk (both IPT), Thomas Olbrich (Employment, both Frankfurt), associates Natalie Downar (IPT, Cologne), Johannes Klug (Employment) and transaction lawyer Tsai Hsuan Lee (M&A, both Frankfurt).
The international Corporate team advising on the transaction also comprised partner Matti Ylä-Mononen from the DLA Piper office in Helsinki, counsel Paula Corban and associate Ciprian Frandes (both Bucharest), senior associate Biborka Jojart and junior associate Tamas Szkiba (both Budapest) and of counsel Katherine Chew and associate Ying Chern (both Singapore).
