DLA Piper has advised a private equity fund Polish Enterprise Fund VIII managed by Enterprise Investors on the acquisition of a majority stake in Polish software company Software Mind from Ailleron. Enterprise Investors will invest PLN111 million in Software Mind by buying 26,7% of existing shares in Software Mind for PLN40 million from Ailleron and will subsequently inject the company with PLN71 million of fresh capital, which will increase the fund’s shares to 50.2%.
Software Mind is a part of Ailleron’s group, a company listed on the Warsaw Stock Exchange. As part of the transaction, and subject to approval at Ailleron’s shareholders meeting, whole division of Ailleron – Enterprise Services will be carved-out from the parent company to Software Mind. Software Mind develops comprehensive (end-to-end) software solutions for clients from financial and telecommunication industries from all over the world as well as Silicon Valley unicorns. The company supports four largest mobile operators in Poland and a few that are based abroad. Software Mind operates out of four development centers across Poland: in Kraków, Rzeszów, Warsaw and Bielsko-Biała, and employs 370 IT professionals.
Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR2.5 billion. These funds have invested EUR2 billion in 146 companies across a range of sectors and exited 134 companies with total gross proceeds of EUR4.1 billion.
DLA Piper’s Corporate team in Warsaw was led by counsel Rafał Kluziak supported by partner Jakub Marcinkowski and assisted by associate Michał Banasiak, as well as senior associate Michał Gintowt and associate Jakub Szczygieł.
This is yet another significant private equity transaction on the Polish market in the fourth quarter of 2020 – an unprecedented year due to the ongoing pandemic, which is being supported by the Polish branch of the global law firm DLA Piper.
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