PwC advises Qt Group on acquisition of Axivion GmbH
Stuttgart/Helsinki, 15th August 2022
An interdisciplinary team of PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) and PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC Deutschland) provided comprehensive legal, tax and finance advice to Qt Group on the acquisition of Stuttgart based software company Axivion GmbH.
The PwC Legal team led by Dr. Minkus Fischer performed the legal due diligence and assisted the client with the preparation, negotiation and execution of the transaction documents. The PwC Germany tax team led by Daniel Windsheimer was responsible for the tax due diligence of the transaction. The PwC Germany finance team led by Daniel Pflaum was responsible for the financial due diligence and the verification of purchase price of the transaction.
The acquisition price is EUR 32 million (enterprise value), which of EUR 24 million will be paid in cash and EUR 8 million with the Qt Group’s shares. Additionally, the parties have agreed on an earn-out structure with a maximum amount of EUR 12 million to be payable as earn out conditional upon the growth of Axivion’s products’ revenue during the time period 2022-2024.
Qt Group (Nasdaq Helsinki: QTCOM) is a global software company with a strong presence in more than 70 industries and is the leading independent technology behind 1+ billion devices and applications. Qt is used by major global companies and developers worldwide, and the technology enables its customers to deliver exceptional user experiences and advance their digital transformation initiatives. Qt achieves this through its cross-platform software framework for the development of apps and devices, under both commercial and open-source licenses.
Axivion GmbH is a major provider of state-of-the-art quality assurance tools, such as static software analysis and software architecture analysis, based in Stuttgart.
Advisors to Qt Group
PwC Legal:
Dr. Minkus Fischer (lead), Philipp Rücker, Oscar Silcher, Markus Breitenbücher (all Corporate/M&A, Stuttgart), Susanne Zühlke, Justus Lucka (both antitrust law, Berlin), Lukas Lundbeck, Elisabeth Kuzbida (both IP/IT, Munich)
PwC Germany (Tax):
Daniel Windsheimer (lead), Saskia Bardens (all Deals Tax, Munich)
PwC Germany (Finance):
Daniel Pflaum (lead), Andreas Kreß (all finance, Nuremberg)
About PwC Legal Business Solutions:
In our global, rapidly changing business world, cooperation, restructuring, transactions, financing and social responsibility are topics that increasingly concern our clients. They need legal certainty for a wide range of complex tasks. That is why we advise them holistically and in close cooperation with PwC’s tax, human resources and finance experts and our international legal network in over 100 countries. Whether a globally active company, a public corporation or a wealthy private individual, every client has a personal contact at our firm who supports them responsibly in all matters of commercial law. In this way, we help our clients to secure their economic success in the long term.
PwC Legal Business Solutions in Germany. More than 370 lawyers at 18 locations. Integrated, tech-powered legal advice.
About PwC Germany:
Our clients face diverse challenges, strive to put new ideas into practice and seek expert advice. They turn to us for comprehensive support and practical solutions that deliver maximum value. Whether for a global player, a family business or a public institution, we leverage all of our assets: experience, industry knowledge, high standards of quality, commitment to innovation and the resources of our expert network in 149 countries. Building a trusting and cooperative relationship with our clients is particularly important to us – the better we know and understand our clients’ needs, the more effectively we can support them.
PwC Germany. More than 15,000 dedicated people at 20 locations. €3.05 billion in turnover. The leading auditing and consulting firm in Germany.
