Sorainen advised travel planning tools provider KAYAK on acquisition of a business unit comprising employees and office equipment from software development company NFQ Technologies in Lithuania.
The business unit comprises approx 40 engineers, who have worked as technology partners for KAYAK for several years. Upon completion of the transaction, the engineers will be employed by KAYAK Lithuania. The team will continue to operate out of the KAYAK Technology Center located in NFQ Technologies’ office in Kaunas, Lithuania.
Comments Giorgos Zacharia, CTO of KAYAK: “With this agreement, a team of highly skilled engineers will join our organization as full time employees. We have worked with the team for many years and are confident they will continue to support our long-term commitment to raising the bar within travel search and ensure we can effectively scale and accelerate our tech innovation.”
KAYAK operates a portfolio of brands including KAYAK, momondo, Cheapflights, SWOODOO, checkfelix and Mundi that together process over two billion consumer queries annually. It operates sites in more than 60 countries and territories.
Sorainen advised the client on all transaction-related issues, including transaction structure, legal aspects of business unit transfer, employment and tax matters.
The client was advised by partner Algirdas Pekšys, senior associate Indrė Ščeponienė and associates Gerda Skirbutienė, Aurelija Daubaraitė and Monika Tukačiauskaitė.