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POELLATH advises sellers on sale of Peakwork AG to Constellation Software, Inc.

The listed Canadian Constellation Software, Inc. has acquired all shares of Peakwork AG in Dusseldorf. Previous owners of Peakwork were company founder Ralf Usbeck and other members of the management team as majority shareholders, as well as the private equity fund Brockhaus and TUI Beteiligungs GmbH. Financial details of the acquisition were not disclosed.

Peakwork, a German company founded in 2009, develops distribution systems used by airlines, tour operators and online travel agencies. Its product enables travel suppliers to access these services to sell to customers. Peakwork, which has about 150 employees, will become part of Vela Software, one of Constellation Software’s six business units. The company will operate independently and emphasized that there will be no disruption of services.

Toronto-based Constellation is a publicly listed, global conglomerate of software companies in a variety of industries.

POELLATH provided comprehensive legal advice to the sellers in the transaction as lead counsel for the seller side with the following team:

POELLATH previously advised investor Brockhaus on its entry in 2017 and now has the trust of all sellers as lead counsel for the transaction.

The buyer side was advised by a team from Taylor Wessing, Hamburg (Dr. Jan Riebeling); for TUI, Dr. Jan Streer (Mayer Brown, Düsseldorf) and Mareike Ackermann (in-house) were also involved.

Monika Goede
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