DLA Piper advises HCL Technologies on joint acquisition of German IT consulting company gbs together with ApoBank

DLA Piper has advised HCL Technologies (HCL), a leading global technology company, on signing an agreement with Atruvia AG to acquire IT consulting company gbs – Gesellschaft für Banksysteme GmbH (gbs) together with Deutsche Apotheker- und Ärztebank eG (ApoBank), the largest cooperative primary bank in Germany. The transaction is expected to close in January 2022, subject to closing conditions including regulatory approvals. Post-closing, HCL will own 51%, and ApoBank will own 49% of the shares in gbs.

This strategic acquisition supports HCL’s existing capabilities to accelerate digital transformation and will enable HCL to expand within the German financial services sector by leveraging the in-depth knowledge of the cooperative banking sector and regulatory expertise of gbs.

HCL has eight offices in Germany, including its regional headquarters in Eschborn. Its more than 1,800 employees serve 18 of the DAX40 companies. HCL’s banking innovation center in Eschborn and an upcoming fintech lab in Berlin offer technology expertise on a global scale. Technology services are offered to organizations in various industries including Financial Services, Manufacturing, Technology and Services, Telecom and Media, Retail and CPG, Life Sciences and Healthcare, and Public Services.

The DLA Piper team was led by counsel Dr Isaschar Nicolaysen and partner Dr Benjamin Parameswaran. The core team further included associate Jan Schürmann (all Corporate/M&A, Hamburg) and was supported by partners Dr Henriette Norda (Employment, Hamburg), Dr Burkhard Führmeyer (IPT, Frankfurt), Dr Thilo von Bodungen (Commercial), Lars Reubekeul (Real Estate, both Munich), Semin O (Antitrust, Frankfurt), Verena Grentzenberg (Data Protection, Hamburg), counsel Sebastian Kost (Tax, Munich), Dr Enno Ahlenstiel (Antitrust), Dr Thorsten Ammann (IPT, both Cologne), senior associates Raffaella Rusin (Tax), Georg Haberkorn (Employment), Philipp Moser (Real Estate) and associates Betina Fischer (Commercial, all Munich), Caroline Huber (Antitrust, Frankfurt), Natalie Downar (IPT, Cologne), David Sanchio Schele (Data Protection, Hamburg), Alexander Hagikian (Frankfurt), Dr Richard Falk, Luisa Domenichini, Ekaterina Filikhina and Dr Lucas Blum (all IPT, Munich).