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19 March 20242 minute read

DLA Piper advises SD Worx subsidiary Protime on the acquisition of Sheepblue

DLA Piper has advised Protime NV on the strategic acquisition of Sheepblue GmbH, a Viennese start-up and provider of an AI-based software solution for automated shift planning for companies. This transaction strengthens the existing HR software suite and is in line with the strategy to offer full HR services from a single source, from time management to payroll.

Protime NV, founded in 1995, is a subsidiary of the SD Worx Group and is headquartered in Belgium. It is a European market leader in the field of time recording and personnel planning offers companies customised personnel solutions that go far beyond time recording and workforce management.

Sheepblue GmbH was founded in Austria in 2018 and uses AI-based cloud software to support companies in the automated and efficient creation of duty rosters and shift schedules, taking into account the individual preferences and employees requirements.

With the acquisition of Sheepblue and the resulting software integration of Sheepblue into its workforce management platform, Protime can expand its automation solution to manufacturing and logistics companies and help them grow their success.

“This strategic acquisition by Protime NV will allow them to grow on the successes which Sheepblue GmbH has seen since 2018 and strengthen their competence in the field of personnel deployment planning. Our work on the transaction is a testament to our expertise and our ability to master complex challenges and support our clients in achieving long-term goals”, said Dr. Christoph Mager, Corporate/M&A and Country Managing Partner at DLA Piper Austria.

The acquisition of Sheepblue GmbH was led by Corporate/M&A partner Dr. Christoph Mager, from DLA Piper’s Vienna office and also included senior associates Eric Wingert and Andreas Bischofreiter (both Corporate/M&A from the firm’s Vienna office).