Stevens & Bolton has advised Sovereign-backed transformational technology provider, Zenitech, on the acquisition of Hungarian software and technology services company, Autsoft. Zenitech’s intention to buy Autsoft was announced in May, and the acquisition has now been completed, having gone through regulatory approvals. The team worked closely with leading Hungarian law firm, Lakatos, Köves and Partners, to deliver the cross-border transaction.
Zenitech, established in 2015, has a track record of excellence in providing consulting, technology and product innovation services with a focus on mission-critical products. It provides end-to-end digital transformation capabilities that support the build of new digital products and help clients increase revenue and market share, streamline operations, and reduce costs. Autsoft was first founded at the Budapest University of Technology and Economic which connects Zenitech to one of the best technology universities in Europe. It has grown to a team of 150 and continues to work closely with the university to service high-profile and commercial projects.
Oscar Horwich commented: “Cross-border transactions like this make up a significant proportion of our deals and we were delighted to support Zenitech on this extension of its existing organic strategy. Combining with the AutSoft team in Hungary gives Zenitech a central position within Europe and access to some of the best technology talent in the region, further strengthening its impressive client proposition.”
Edward Batrouni, Director and Joint CEO of Zenitech, commented: “It was great to work with the team at Stevens & Bolton on this project which is a really exciting step for Zenitech. Oscar’s pragmatic approach to complex issues helped get the deal over the line and we always enjoy working with him as well as Charlotte, Sarah and others who formed a high quality and responsive team.”
Peter Eckersley, Investment Manager at Sovereign Capital Partners, commented: “Oscar is a shrewd negotiator and his expert advice helped us navigate through to completion. The deal combines and strengthens two businesses that are highly aligned and will support Zenitech’s ambitious growth agenda.
The Stevens & Bolton team was led by partner Oscar Horwich (corporate) and supported by Andrew Dodds (banking), Charlie Maurice (commercial), Jenny Robertson (corporate), Charlotte Lane (corporate) and Melanie Shone (tax).