Raue advises Kites on sale to Zoom
Berlin — Raue advised the two founders of Karlsruhe-based start-up Karlsruhe Information Technology Solutions — Kites GmbH (“Kites”) on the sale of the language translation technology provider to NASDAQ-listed Zoom Video Communications, Inc. (“Zoom”) advised. The translation technology will be used in Zoom meetings in the future.
Kites specializes in the development of real-time machine translation solutions. The start-up has existed since 2015 and is a spin-off from the Karlsruhe Institute of Technology (KIT), where the two founders are faculty members. Kites currently employs twelve people, who will in future strengthen Zoom’s engineering team from Karlsruhe. The founders will also remain with the team. Zoom intends to further expand the Karlsruhe development team and is also considering establishing a research and development site in Germany.
Raue comprehensively advised the two founders of Kites on the sale of the company to Zoom, in particular on corporate, IP and employment law issues as well as on the foreign trade clearance of the transaction.
Advisor to founder and shareholder Kites GmbH, Karlsruhe: Raue, Berlin
Prof. Dr. Andreas Nelle, Photo (Lead, Partner, Corporate/M&A), Dr. Markus Plesser (Partner, IP), Dr. Felix Stang (Partner, IP), Prof. Dr. Sascha Herms (Partner, Labor Law), Dr. Michael Bergmann (Partner, Antitrust Law, Foreign Trade Law), Dr. Michael Gläsner (Counsel, Corporate/M&A), Tatiana Gushchina (Counsel, Corporate/M&A), Benjamin Lück (Associate, IP), Anja Pietschmann (Associate, Public Law), Dr. Johannes Modest (Associate, Antitrust Law, Foreign Trade Law)