We advised private equity company ConHostinger (Germany) on acquiring a minority stake (approx. 31%) in Hostinger – a company with a world-wide presence, providing web hosting, VPS, internet domain registration and website building software, as well as e-mail services.
Transaction reflects larger TMT sector trends
This is the second major investment in a Lithuanian technology startup this year. In February, CGTrader, a Lithuanian company operating a three-dimensional (3D) model trading platform, attracted USD 9.5 million in investment. Several other investment rounds are expected in the coming months in the Lithuanian startup market.
This transaction also marks a continuing trend of TMT being the most active sector in terms of transactions both worldwide and in the Baltics. In 2020 TMT sector saw the largest number of transactions (16 transactions), and as many as four of them were among the top 10 transactions in the Baltics by disclosed value.
Our services and project team
We advised the client on all issues related to the transaction, including early discussions and the conclusion of a non-binding term sheet, representation during the acquisition process, legal due diligence, negotiation of transaction documents and the shareholders’ agreement, and filing for clearance of the buyer by the Commission Coordinating the Protection of Objects Important for Ensuring National Security.
The transaction team was led by partners Algirdas Pekšys and Laimonas Skibarka, as well as senior associate Jonas Kiauleikis. The team also included senior associates Monika Mališauskaitė-Vaupšienė, Aurelija Daubaraitė, Inga Macijauskaitė and Irma Kirklytė; and associates Lukas Vaišvila and Mindaugas Dominykas Baniulis; as well as counsel Stasys Drazdauskas.