LLCP portfolio subsidiary cleversoft acquires FAIT Internet Software
Munich — McDermott Will & Schulte has advised cleversoft group, a portfolio company of Levine Leichtman Capital Partners (LLCP), on the acquisition of the Austrian B2B FinTech FAIT Internet Software GmbH. With the acquisition, cleversoft complements its existing portfolio with flexible front-end technologies and additional services for integrated end-to-end workflows in digital financial advisory, portfolio management and asset management.
The closing of the transaction is subject to the usual regulatory approvals and is expected later in the year.
Cleversoft, headquartered in Munich and with offices in Frankfurt, Luxembourg, Amsterdam, The Hague, Malta, Sofia, Seville, Istanbul, Dubai and Kuwait, provides more than 1,200 financial institutions worldwide with automated solutions for optimizing business-relevant compliance processes.
FAIT (Financial Analysis and Investment Technology) is an Austrian FinTech company that develops software solutions for digital investment advice and asset management. The company offers banks, FinTechs and insurance companies software products, APIs and consulting services in the field of digital investment advice.
Advisor Cleversoft: McDermott Will & Schulte, Munich
Holger H. Ebersberger, LL.M. (Photo © McDermott), Dr. Thomas Diekmann (both lead), Dr. Manuel Weiß (Counsel; all Private Equity), Dr. Florian Schiefer (Tax); Associate: Julia Külzer (Private Equity).
About McDermott Will & Schulte
McDermott Will & Schulte is a leading international commercial law firm with more than 1,700 lawyers in over 20 offices in Europe, North America and Asia. In Germany, the firm has offices in Düsseldorf, Frankfurt am Main, Cologne and Munich. Our teams cover the entire spectrum of commercial law with their expertise. The German practice is led by McDermott Will & Schulte Rechtsanwälte Steuerberater LLP. You can find more information at: www.mwe.com/de/