We advised Jenoptik, a global technology group operating in the photonics market, on the acquisition of 100% shares of UAB Fima ITS in Lithuania and, indirectly, SIA Fima ITS in Latvia.
The companies operate in the Lithuanian and Latvian markets in the field of intelligent transportation systems (ITS), providing a comprehensive range of services and technologies designed to enhance transportation infrastructure, road safety, public security and traffic management. Together, these activities constitute a running and operational stand-alone business. One of the latest projects was the implementation of a nation-wide e-tolling system based on ANPR technology (automatic number plate recognition) in Lithuania.
“We will continue the good cooperation in a new organizational setup. We have been working with our new colleagues on the ‘Vision Zero’ initiative closely for years and wholeheartedly welcome them to the Jenoptik family. Our business is global, yet we are grounded in local presence, offering close collaboration and a deep understanding of the specific regional requirements and regulations. This important step paves the way for further business in the whole Baltic area,” said Tobias Deubel, Head of Jenoptik’s SBU Smart Mobility Solutions.
In preparation for the transaction, the seller and Fima have demerged the ITS business from UAB FIMA in Lithuania and from the relevant Fima companies in Latvia.
Our team and services
Our regional team, led by partner Jonas Kiauleikis and senior associate Aliaksei Vashkevich, also included partner Aija Lasmane, counsel Renāte Purvinska, senior associates Paulius Murauskas, Povilas Užkuraitis and Linas Petronaitis, as well as associate Barbora Bernatonytė.
We advised the client on all transaction-related matters in Lithuania and Latvia, including early discussions and non-binding agreements, legal and tax due diligence, the FDI clearance process, the demerger and carve-out of the ITS business, taxation aspects, negotiating definitive transaction documents, signing and closing process.
