Binder Grösswang Advises International PE Investor Insight Buying Into Tricentis
Binder Grösswang advised the international financial investor Insight Venture Partners on buying into the software developer Tricentis.
Insight acquired all the shares previously held by private equity investor Viewpoint as well as the shares of other previous shareholders and carried out a capital increase.
The managing shareholders of Tricentis will remain with the company both as managing directors and shareholders.
Binder Grösswang lead partner Florian Khol: “The investment of Insight has attracted international attention – this reflects the great job that Tricentis has done, and to a certain extent, it is also a token of appreciation for Austrian founders and start-up companies that are so often underestimated by the public. We at Binder Grösswang are happy to have advised Insight, one of the leading American private equity funds, on this complex transaction in Austria, across the Atlantic.“
Insight Venture Partners is a leading global private equity and venture capital company specializing in software and Internet corporations; since its formation in 1995, Insight has raised more than 13 billion dollars which it invested in 250 enterprises. The present transaction is yet another step forward in the expansion of the company’s policy of investing into fast-growing software technology businesses.
Tricentis is a Vienna-based software developer with branches in the USA, Germany, Switzerland, the Netherlands, Poland, the UK, Australia and India, specializing in software testing programs to control business risk.
The Binder Grösswang core team (Corporate/M&A) comprised lead partners Florian Khol, Hemma Parsché (Attorney) and Christoph Schober (Associate). In the transaction, they were supported by: IP - Hellmut Buchroithner (Counsel), Maria Gernerth Mautner Markhof (Associate), Corporate/KYC - Gottfried Gassner (Partner), Mona Holzgruber (Associate) and Florian Hutzl (Associate), Commercial - Thomas Berghammer (Counsel), Tax - Christian Wimpissinger (Partner), Clemens Willvonseder (Attorney) and Barbara Gangl (Associate), Employment Law - Horst Lukanec (Partner), Angelika Pallwein-Prettner (Partner), Sabine Apfl (Associate) and Stefan Woda (Associate), Finance - Robert Wippel (Attorney) and Adrian Zuschmann (Associate), Regulatory - Markus Pinggera (Attorney), Real Estate -Michael Ebner (Attorney), and Competition - Isabell Innerhofer (Counsel), Stefanie Ziegler (Associate).