POELLATH advises TIMETOACT GROUP on the acquisition of brainbits GmbH
TIMETOACT GROUP (“TIMETOACT”), a leading provider of IT services for upmarket medium-sized companies, corporations and public institutions and portfolio company of funds advised by Equistone Partners Europe, has acquired brainbits GmbH (“brainbits”). The current managing directors of brainbits, Sascha Emondts and Patrick Schuh, will continue to manage the company and will also participate in TIMETOACT as shareholders. The parties have agreed not to disclose details of the transaction. POELLATH provided legal and tax advice to TIMETOACT in connection with the acquisition.
Cologne-based brainbits is an IT consulting company that plans, implements and supports individual, web-based software solutions. As an Atlassian Platinum Solution Partner, the company supports both medium-sized companies and corporations in the introduction and use of Atlassian products and the associated common methods and concepts such as Scrum, Kanban, ITSM and ESM or ISO-based management systems. brainbits also focuses on consulting for agile transformation projects. The company employs approximately 70 people.
TIMETOACT is a leading provider of IT services, primarily for medium-sized and large companies in the industrial, financial and service sectors, as well as public sector institutions. The company comprises several specialized IT companies at 17 locations in Germany, Austria and Switzerland, as well as in Latvia, Malaysia, Singapore and the USA. TIMETOACT now employs over 1,200 people and has a comprehensive portfolio of software and consulting services. The transaction marks another groundbreaking step in the expansion of TIMETOACT’s Atlassian consulting portfolio.
POELLATH provided legal and tax advice to TIMETOACT within the context of the acquisition with the following Munich team: