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Faegre Baker Daniels, EY Law, and Van Campen Liem Advise on Fitbit Acquisition of Vector

Faegre Baker Daniels, EY Law, and Van Campen Liem Advise on Fitbit Acquisition of Vector

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Faegre Baker Daniels, EY Law, and Van Campen Liem have advised the European luxury smartwatch brand Vector on the company's acquisition by Fitbit. The value of the deal was not disclosed.

"With the addition of the Vector Watch team, we are establishing a cutting-edge development center in Bucharest, Romania, further building our global engineering capabilities and expanding our presence in EMEA," Fitbit said in a statement.

"We believe this is an important milestone … incorporating our unique technology and know-how with Fitbit’s experience and global community," Vector said in a statement posted on its web site.

The Faegre Baker Daniels team consisted of Partner Ted Cominos and Cristina Audran-Proca. The Van Campen Liem team consisted of Partner Marc Van Campen and Leonie Kraakman. The EY Law | Radu si Asociatii team consisted of Dragos Radu, Radu Ionescu, and Nicoleta Gheorghe.

“This is a perfect illustration of the huge potential of the vibrant Romanian tech industry. I am certain that this year we will see other headline success stories coming from this space, as local companies become ripe for investments, exits, and perhaps even IPOs,”, said Cristina Audran-Proca. “It is great to see growing Silicon Valley awareness of, and interest in acquiring, the cutting edge technologies and exceptional technical expertise that Romania has to offer,”, added Ted Cominos. 

“One more example where the Dutch-Romanian connection in the VC and PE structures proves to work well until exit, and we were a witness,” commented Marc Van Campen of Van Campen Liem. 

Vector also received advice by Matt Sachse of the technology investment bank Pagemill Partners, Charles Welch (formerly of Pagemill Partners, now Co-CEO of Menalto Advisors), and Ionut Simion and Andreea Mitirita of PwC Romania on Tax matters.

The identity of counsel for Fitbit was not disclosed.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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