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Nuremberg, 13 August 2020: Rödl & Partner has been providing comprehensive advisory services on financial and tax aspects to the shareholders of the software developer ID-ware Deutschland GmbH and ID-ware International B.V. in the search for a cooperation partner and the sale of a majority shareholding within the framework of a structured process. The parties have agreed not to disclose financial details of the transaction.
With the new partner, the management of ID-ware wants to successfully continue the growth path of the group. While in the past the focus of the activities has been in the Netherlands, the group's new development capacities are to be used together with a strengthened sales team to expand the group's activities in the German-speaking countries, France and Great Britain. With the establishment of a subsidiary in Pakistan last year, the Group has significantly expanded its own development capacities and therewith successfully reduced its dependence on the tight market for qualified software developers in Europe.
In the course of the project, an interdisciplinary team of Rödl & Partner specialised in corporate transactions advised ID-ware Deutschland GmbH and ID-ware International B.V.. The Partner Cyril Prengel has led the financial team whilst the tax part of the project was covered by the team of the Partner Florian Kaiser.
Main activities were the preparation of a financial and tax fact book for the transaction project based on numerous pro-forma presentations in line with the corporate strategy, the preparation of a tax questionnaire for the Dutch company as well as the conduct of expert calls on financial and tax aspects with potential cooperation partners during the bidding process.
The ID-ware Group consists of ID-ware Deutschland GmbH and ID-ware International B.V. Since 2019, the newly founded subsidiary ID-ware Pakistan (SMC-Private) strengthens the development capacities of the group. ID-ware Group develops and implements management software to administrate the life cycle of smartcards. The (software-as-a-service) enterprise platform also manages the authorizations, so that each smartcard user is automatically granted relevant access rights based on his individual profile.
The software of ID-ware is linked to the existing HR and Enterprise Resource Planning systems, allowing all rights granted in these systems to be directly linked to the smartcards. By linking to existing management systems, the granting of access rights to smartcards is simplified, reduces the risk of errors (one-time entries) and ensures compliance with (access) protocols. ID-ware's customers include governments, financial institutions, healthcare institutions, universities and industrial companies. The software company was founded in 2005 and has shown double-digit revenue growth in recent years.
Cyril Prengel, Partner (Transaction Services), Nuremberg, overall project management as well as management of financial aspects of the project – Financial
Christoph Lebschi, Senior Associate (Transaction Services), Nuremberg – Financial
Yannik Meka, Associate (Transaction Services), Nuremberg – Financial
Florian Kaiser, Partner (Transaction Tax Services), Nuremberg, project management of tax aspects – Tax
Dr. Patrick Satish, Associate Partner (Transaction Tax Services), Nuremberg – Tax
Manuel Tremmel, Associate (Transaction Tax Services), Nuremberg – Tax
Cyril Prengel
Partner
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