PwC Legal advises shareholders of Hornetsecurity Group in the course of an investment by Providence Strategic Growth and Verdane

Munich, 30 July 2020

PricewaterhouseCoopers Legal Aktiengesellschaft Rechtsanwaltsgesellschaft (PwC Legal) has advised the shareholders in connection with the investment of Providence Strategic Growth, a private equity investor focusing on, among others, medium-sized software and technology-oriented service companies, and Verdane, an investment company specializing in growth investments, in the Hornetsecurity Group. The parties have agreed not to disclose commercial terms. Existing shareholders of the Hornetsecurity Group, such as High-Tech Gründerfonds and HCS Beteiligungsgesellschaft, have sold their shares in the course of the transaction.

PwC Legal played a key role in the contract negotiations and provided legal advice on the transaction documentation for the shareholders of Hornetsecurity Group. Hornetsecurity will now move into the next growth phase with its growth investors and in particular intensify its activities in international markets.

Hornetsecurity Group is one of Europe’s leading cloud security providers, with more than 200 employees in eleven different locations. The Hannover-based company develops and distributes IT security solutions for digital communication and data protection in nine redundantly secured computer centers worldwide.

Advisor to the seller:

PwC Legal:

Dr. Steffen Schniepp (Stuttgart) Gerhard Wacker (Nuremberg; both lead, both Corporate/M&A), Dr Roland Hens (Cologne, Corporate/M&A), Dr Minkus Fischer, Karsten Horch, Jasmin Kluike (all Stuttgart, all Corporate/M&A)

Advisor to the counter party:

Osborn Clarke, Munich:

Dr Nanni Spitzer, Dr Philip Meichssner, Lorenz Philip Chwaszcza

The transaction was advised by ACXIT Capital Partners as M&A consultant for the shareholders of Hornetsecurity.

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