TIMETOACT GROUP takes over PKS Software
Munich — The funds advised by Equistone Partners Europe (“Equistone”) and the portfolio company TIMETOACT GROUP, a leading provider of IT services for medium-sized companies, corporations and public institutions in Germany, Austria and Switzerland, have acquired the software transformation expert PKS Software GmbH. Shearman & Sterling advised funds advised by Equistone Partners Europe (“Equistone”) and TIMETOACT GROUP on the financing of the add-on acquisition of PKS Software GmbH.
The long-standing partnership between the two companies will now be continued and expanded under the umbrella of the TIMETOACT GROUP. The current PKS managing directors Heidi Schmidt and Roland Zurawka will continue to manage the company. In addition, Heidi Schmidt will become a shareholder in TIMETOACT GROUP.
The TIMETOACT GROUP, headquartered in Cologne, Germany, currently comprises eight specialized corporate brands at 16 locations in Germany, Austria and Switzerland: ARS, CLOUDPILOTS, edcom, IPG, novaCapta, synaigy, TIMETOACT and X‑INTEGRATE.
Founded in 1991, PKS specializes in the customer-specific further development of business-critical individual software. The focus is on supporting companies in optimizing grown software landscapes in such a way that they can collaborate with their customers and suppliers efficiently, in line with the times and without errors.
The Shearman & Sterling team included partner Winfried M. Carli and associate Daniel Wagner (both Munich-Finance).
Responsible for the transaction on the part of TIMETOACT are Frank Fuchs and Christian Koch. TIMETOACT was advised on the transaction by AC CHRISTES & PARTNER (Financial & Tax) and de Angelis Attorneys at Law (Legal).
The PKS shareholders were advised on the transaction by Steuererkanzlei Serafini (Financial & Tax) and Geißler Rechtsanwälte (Legal).
About Shearman & Sterling
Shearman & Sterling is an international law firm with 25 offices in 13 countries and approximately 850 lawyers. In Germany, Shearman & Sterling has offices in Frankfurt and Munich. The firm is one of the international market leaders in advising on complex cross-border transactions. Worldwide, Shearman & Sterling primarily advises international corporations and large national companies, financial institutions, and large mid-sized companies. www.shearman.com.