Baker McKenzie is advising the software company SAP SE on the sale of the communication unit SAP Digital Interconnect ("SDI") to Sinch AB ("Sinch"), a global leader in cloud communications for mobile customer engagement, under a share and asset purchase agreement. SAP’s interconnect services group offers cloud-based communications products and serves more than 1.500 enterprise customers throughout the world.
Sinch prevailed as bidder in a bidding process for the sale of SAP Digital Interconnect. The transaction volume amounts to EUR 225 million.
Together with an international team, Baker McKenzie advised SAP on all legal aspects of the transaction under the joint leadership of Dr. Bernhard Trappehl (partner, employment, Munich), Darcy Down (partner, Corporate/M&A, Chicago) and Lawrence Lee (partner, Corporate/M&A, Palo Alto). The advice covered, among others, the carve-out and sale of two separate business units in more than 30 jurisdictions.
"The successful conclusion of this transaction is part of a strategic realignment of our long-standing client. Together with our well-rehearsed international team, we were able to contribute to the success of the bidding process and the carve-out despite the additional challenges posed by COVID-19 in the last weeks before signing," comments Dr. Bernhard Trappehl, Baker McKenzie's global relationship partner for SAP on the transaction.
Sinch brings businesses and people closer with tools enabling personal engagement. Its leading cloud communications platform lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice and video. Sinch is a trusted software provider to mobile operators, and its platform powers business-critical communications for many of the world’s largest companies. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 30 countries
The SAP Digital Interconnect group enables enterprises to cover the “last mile” with their customers and connect businesses, people and things in the digital economy. This is being done using SMS, e-mail, push notification and social network channels. SAP Digital Interconnect provides cloud-based, API-driven engagement services that help mobile network operators, enterprises and developers drive digital transformation with intelligent, interconnected, multichannel engagements. The group has a strong customer base of blue-chip customers, including over 1,500 enterprise customers and 500 mobile operators, spanning 190 countries.
As the Experience Company powered by the Intelligent Enterprise, SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77 percent of the world’s transaction revenue touches an SAP system. The company's machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises.
Legal advisor to SAP:
Global Lead/Global Employment: Dr. Bernhard Trappehl (partner, Munich)
Corporate/M&A: Darcy Down (partner, Chicago) and Lawrence Lee (partner, Palo Alto)
Corporate/M&A: Adam Aft (partner, Chicago), Brandon Zelasko (associate, Chicago), Amanda Bradley (associate, San Francisco), Kathryn Strong (associate, Chicago), Barry Chang (associate, Palo Alto), Aidan Milstead (associate, Chicago), Devin Muntz (associate, Chicago)
Employment: Agnes Herwig (associate, Frankfurt), Benjamin Ho (partner, San Francisco), Thomas Asmar (partner, Palo Alto)
Regulatory: Prof. Dr. Joachim Scherer (partner, Frankfurt), Caroline Heinickel (counsel, Frankfurt)
IT: Prof. Dr. Michael Schmidl (partner, Munich), Florian Tannen (partner, Munich)
IP: Michelle Blunt (partner, London), Sankalp Kandaswamy (associate, Chicago)
Tax: Kai Kramer (partner, Houston), Ross Staine (associate, Houston)