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Steinbeis M&A advises LBBW subsidiary targens GmbH on the sale of its mySaveID business unit to msg systems AG
A multidisciplinary M&A team from Steinbeis M&A comprehensively advised targens GmbH, a subsidiary of Landesbank Baden-Württemberg (LBBW), on the sale of its mySaveID business unit to msg systems AG in the course of an asset deal.
targens GmbH is an expert house for banking, compliance and digital innovation for financial and business management tasks. In addition, targens GmbH is a leading software manufacturer for supporting processes in complying with national and international compliance guidelines.
msg systems AG is an international group of companies for IT services that offers industry-specific complete solutions in the areas of consulting, application and system integration as well as the development of individual and standard software. Its target groups are primarily insurance companies, financial service providers and the automotive industry.
The divested business unit mySaveID is a solution for confirmed personal and corporate identities. It makes it possible to create and manage trustworthy digital identities (according to eIDAS and eIDAS 2.0) in the B2B area quickly, securely as well as cost-effectively. As a complete solution, this technology takes over all services: From the creation and administration to the release of identity data to third parties, to the use for qualified electronic signatures, to the integration into business processes. Further application possibilities exist above all in the area of the Internet of Things (IoT). The mySaveID service is designed to be technology-independent and can be integrated into existing applications, platforms or networks via standardised interfaces. In addition, it is compatible with a wide range of distributed ledger technologies (blockchain).
The parties agreed not to disclose the purchase price.
In the course of the transaction, Steinbeis M&A provided comprehensive advice to targens GmbH in the context of strategic contract negotiations and drafting.
Dr Roderich Fischer (Project Lead Partner, Corporate/M&A), Denis Bacina (Project Lead, Negotiations, Corporate/M&A), Peter Holzhäuser, Patrick-Lukas Mamok, Christina Backhaus (all Corporate/M&A), Dr Torsten G. Lörcher, Laurent Meister (both Partners, IP/IT), Dr Hanno Rädlein (Partner), Oliver Leicht (both Labour Law) as well as Alexander Euchner (Partner) and Stefanie Schrötter (both Tax).
Dr Andreas Steigenberger (Senior Legal Counsel, Corporate/M&A), Christoph Kotzur (Legal Counsel, IP), Dr Florian Olms (Partner Labour Law, Advant Beiten)
Holistic transaction consulting by entrepreneurs for entrepreneurs: Steinbeis M&A www.steinbeis-finance.de/en offers its clients a comprehensive and professional range of consulting and services in the areas of (1) Mergers & Acquisitions (2) Buy-and-Build, (3) Strategy and (4) Capital Advisory, across all industries. Clients are in particular medium-sized entrepreneurs, companies and groups of companies in Germany and abroad, but also international groups seeking to establish themselves in the medium-sized market. Currently, 13 partners work at Steinbeis M&A, having completed well over 200 successful transactions in recent years. Steinbeis M&A, with offices in Frankfurt, Stuttgart, Hamburg, Cologne, Berlin, Munich, Karlsruhe, Vienna (A), Zurich (CH), Palma (ES) and London (UK), is an independent consulting firm of the Steinbeis Group www.steinbeis.de.
Alfred Dietel (Partner)Steinbeis M&A MünchenTel. + 49 160 954 80 firstname.lastname@example.org/en
Christian von Staudt (Partner)Steinbeis M&A Frankfurt am MainTel. +49 160 989 44 email@example.com/en
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