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14 June 2024
press release

Austria: Schoenherr advises Ascent Group on cross-border acquisition of PARKSIDE Group

Schoenherr advised Ascent Group, a leading provider of digital transformation services and solutions, on signing the share purchase agreement for the acquisition of PARKSIDE Informationstechnologie GmbH, an Austrian company specialising in individual software development, with subsidiaries in Switzerland and Portugal. Closing of the transaction was on 5 June 2024.

Acting as lead counsel for the multijurisdictional team, the firm provided comprehensive legal advice on all due diligence and transactional matters, as well as on the purchaser's financing of the deal. Wenger Vieli was local counsel for Switzerland and CCA Law Firm acted as local counsel for Portugal.

Ascent Group is headquartered in Bristol, England. The company works with over 150 businesses in the UK, Europe and North America, from global insurance, healthcare and retail to smart home devices and space exploration, designing and building data and AI-driven services, products, platforms and experiences on Azure.

Headquartered in Graz, Austria, PARKSIDE Informationstechnologie GmbH develops, improves and scales digital products offering UX/UI design, front- and backend, mobile & platform development, cybersecurity, data science and tech consulting.

The Schoenherr team advising Ascent Group was led by Michael Marschall (partner), who was supported by Lukas Pirringer (associate), Markus Piuk (partner), Roland Misic (associate), Jonna Eberl (attorney at law), Clemens Rainer (partner), Markus Buchleitner (attorney at law), Rebecca Schretzmayer (associate), Teresa Waidmann (partner), Hanna Elisabeth Kirschner (associate), Alexander Pabst (attorney at law), Christian Kracher (associate) and Denise Stahleder (associate). Peter Feyl (partner) and Maximilian Nusser (associate) advised on the financial aspects of the deal. Johannes Frank (counsel), Anna Visontai (attorney at law) and Maha Zöhrer (associate) advised on regulatory related aspects.

The sellers were represented by Herbst Kinsky.