Acting as the local advisor in Estonia and Belarus through Bird & Bird, we advised, the leading software provider for online check-ins, on the acquisition of Estonian-based startup GetID offering an all-in-one identity verification service.

Strategic step forward Group, the tech company that changes how people all over the world check in with services online, today entered into an agreement to acquire all shares in the Estonian tech company GetID. The acquisition is the first step in Group’s strategy to add technologies and strong teams by acquisitions, within areas that strengthen the Group’s already leading SaaS-software for check-ins.

“GetID is a rapidly growing tech company with a fantastic team that in a relatively short time frame has built innovative and leading software based on AI for image recognition applied within face matching and reading of physical documents. I believe that their technology product-wise is far ahead of their competitors and we are thrilled that such a prominent team wants to be part of Group going forward. This acquisition is in the long-term a very important part of our puzzle, and we look into many other technology areas for suitable acquisition candidates. It is through the technical advantage that Group will continue to deliver value to our customers and shareholders”, comments Kristoffer Cassel, CEO and co-founder of Group.

Key personnel to remain as shareholders

The purchase price amounts to a total of EUR 8.1 million, where EUR 5.5 million is paid in shares of Group and EUR 2.6 million is paid in existing cash and cash equivalents.

After the acquisition is completed all key personnel and shareholders in GetID will own approximately 3.2% of the shares in Group, these are issued as part of the transaction.

Our services and client team

We advised acting as local counsel in Estonia and Belarus through Bird & Bird. We supported the client in relation to Estonian and Belarusian aspects of the deal, including conducting legal due diligence of the local entities and advising on local aspects of transaction documentation.

Our client team was led by partner Piret Jesse and senior associate Robin Teever, and included: