Baker McKenzie recently acted as an adviser in SimCorp's acquisition of all shares in AIM Holding SCA and its subsidiaries (AIM Software) based on an enterprise value of EUR 60 mio from private equity fund Welsh, Carson, Anderson & Stowe and the AIM management. Closing of the transaction is expected for August 2019. AIM Software is a leading provider of financial data management software.
AIM Software has around 75 employees, with offices in Vienna, London and New York. Additionally, it engages around 40 people with a third-party service provider. In 2018, AIM Software generated revenue of EUR 15.5m.
NASDAQ Copenhagen-listed SimCorp provides IT solutions and expertise to investment managers at financial institutions such as banks, national banks, pension funds and insurance companies worldwide. Having its headquarters in Denmark, it employs close to 1700 employees at locations in Europe, North America and Asia Pacific.
SimCorp, a longstanding partner of AIM Software, succeeded in an auction process advised by Baker McKenzie. The team led by Vienna-based partner Wendelin Ettmayer conducted the legal due diligence, negotiated the transaction documents and assisted in connection with the conclusion of the W&I insurance. “The involvement of private equity in an auction process automatically creates certain timely constraints,” reports Wendelin Ettmayer.
Baker McKenzie yet again demonstrates its expertise in the TMT sector, having recently advised THQ Nordic in connection with its acquisition of Koch Media, Intact in connection with the investment by IMCap, or the takeover of indoor positioning specialist indoors.