Herbst Kinsky and Cooley have advised Bitmovin GmbH, a subsidiary of Bitmovin Inc US, on its receipt of a loan of up to EUR 20 million from the European Investment Bank. Cooley served as the US law advisor to BItmovin. EIB was advised by Duane Morris and Schoenherr.
Bitmovin, founded in 2013 in Klagenfurt, Austria, is a multimedia technology company. According to Schoenherr, the company is "a leading provider of video infrastructure for online media companies around the world. The company has been at the forefront of all major developments in online video – from building the world’s first commercial adaptive streaming player to deploying the first software-defined encoding service that runs on any cloud provider or in a data centre. Bitmovin works with media companies across the globe to build innovative video products that deliver video to billions of consumers every day."
Bitmovin Inc US issued a warrant for the loan to the EIB. According to Schoenherr, "the EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments, the heart of the Investment Plan for Europe – the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy."
The Herbst Kinsky team included Attorneys at Law Florian Steinhart and Carl Walderdorff.
The Cooley team was led by Partner Michael McGrail.
The Duane Morris team included Partners Nanette Heide and Bruce Jurist and Associates Xiu Ming Gao and Kristen Lin.
The Schoenherr team was led by Partners Martin Ebner and Thomas Kulnigg and included Associate Wolfgang Hellsberg and Attorneys at Law Manuel Ritt-Huemer, Maja Petrovic, and Marco Thorbauer.