PwC advises Qt Group on acquisition of Axivion GmbH

August 15, 2022

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)

 

For further information please contact:
Nils Philipp
PwC Communications
Tel: +49 211 981-2128
Email

 

About PwC Legal

In today’s rapidly evolving marketplace, our clients are increasingly concerned with business collaborations, restructuring, mergers and acquisitions, financing and questions of social responsibility. They need legal security when dealing with such complex issues. That is why we work closely with PwC’s tax, human resources and finance experts and draw on the resources of our legal network in more than 100 countries to deliver comprehensive advice. Whether a global player, a public body or a wealthy individual, each client can rely on a personal account manager to address his or her specific legal needs. This dedication helps us ensure our client’s long-term business success.
PwC Legal. More than 220 lawyers at 18 locations. Integrated legal advice for the real world.

 

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 155 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

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Contributors

Dr. Minkus Fischer

Corporate/M&A

Tel: +49 711 25034-1372

Susanne Zühlke

Antitrust

Tel: +49 30 2636-1707

Lukas Lundbeck

IP, IT, Commercial

Tel: +49 89 5790-5964