Binder Groesswang and Dechert have advised U.S. private equity firm Welsh, Carson, Anderson & Stowe, on the sale of its stake in AIM Software Group to SimCorp in a deal valuing the company at EUR 60 million.
Following the transaction, AIM Software will be fully integrated into SimCorp. Closing is expected to occur at the beginning of August, 2019.
WCAS focuses on two target industries: technology and healthcare. It has raised and managed funds totalling over USD 27 billion of committed capital. AIM Software is a provider of data management solutions with a specialized focus on the buy-side. The company has offices in Vienna, London, and New York.
SimCorp provides integrated investment management solutions to the asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, banks, and sovereign wealth funds.
The Binder Groesswang team was led by Partner Thomas Schirmer and included Partners Gottfried Gassner, Angelika Pallwein-Prettner, Markus Uitz, and Stefan Albiez, Senior Associates Claudia Fochtmann-Tischler, Johannes Bammer, and Wolfgang Guggenberger, and Associates Felix Fuith and Artan Duraku.
Dechert's London-based team was led by Partner Ross Allardice and included Senior Associates Tony Brown and Daniel Mansfield.
Editor's Note: After this article was published Baker McKenzie informed CEE Legal Matters that the firm advised SimCorp on the deal. The firm's team was led by Vienna-based Partner Wendelin Ettmayer and included Partner Jean-Francois Findling, Senior Associates Amaury-Maxence Bagot and Christoph Dahlgrun in Luxemburg, Partner Alex Lewis, Senior Associate James Adams, and Associate Georgiana Andrews in London, and Senior Counsel Simone Liebmann-Slatin, Senior Associate Elisabeth Wasinger, Lukas Feiler, and Franz Josef Arztmann, Associate Stephanie Sauer, and Junior Associates Thomas Androsch, Kira-Lisa Kirchmayer, Bernhard Kainz, and Sophie Schubert in Vienna.