NewsClifford Chance advises KKCG in relation to the acquisition of global technology platform Avenga

Clifford Chance played a significant role in advising and facilitating KKCG’s recent acquisition of a 100% share in the end-to-end software engineering and consulting platform Avenga from funds managed by Oaktree Capital Management, L.P. and funds managed by Cornerstone Investment Management, L.P.

Clifford Chance not only guided KKCG through the intricacies of the transaction as the buyer’s legal adviser but also actively participated in securing the financing. This latest acquisition of Avenga marks another significant milestone for KKCG, further solidifying its position in the ever-evolving software landscape.

“Avenga brings innovative solutions and expertise to the table, aligning seamlessly with KKCG’s strategic vision. Known for its commitment to cutting-edge technology and client-centric approaches, Avenga enhances our capabilities and reinforces our position in the market,” commented Michal Tománek, KKCG’s investment director.

Michal Jašek, counsel of corporate legal advisory practice at Clifford Chance office in Prague, added: “This has been another successful advisory collaboration with a long-term client. We are thrilled to have assisted KKCG in this strategic acquisition, reinforcing our commitment to delivering exceptional legal guidance and fostering enduring partnerships.”

KKCG is an investment and innovation group with expertise in lotteries and gaming, energy, technology, and real estate. Founded by entrepreneur, investor, and philanthropist Karel Komárek, KKCG employs over 10,000 people in 36 countries across its portfolio companies, with more than €8 billion in assets under management. KKCG’s IT pillar leverages size, expertise, and support to provide world-class IT solutions that help businesses and organisations stay ahead of the curve. Its focus spans a wide range of areas, including application development, commercial software, system integration, digitalisation of public administration, and cybersecurity.

Avenga is a global engineering and consulting platform with deep industry knowledge, especially in pharma, insurance and finance, and advanced manufacturing. The company’s IT specialists operate from 31 offices worldwide and support global corporations and complex organisations in their digital transformation with projects along the entire digital value chain – from digital strategy to the implementation of software, user experience, and IT solutions. Avenga’s many world-renowned clients include organisations like ABB, Allianz, GSK, Santander, and Volvo.

The M&A Clifford Chance team working on this transaction was led by counsel Michal Jašek with primary support from senior associate Stanislav Holec. The team responsible for financing was led by partner Miloš Felgr assisted primarily by counsel Dominik Vojta. The interdisciplinary and international team further consisted of senior associate Eli Bursky, partners Alex Cook, Jonathan Dillon and Stefan Bruder, counsels Dunja Pralong – Damjanovic and Jacqueline Landells, associates Nikoletta Kozioł, Céline Feys, Mark Sheehy, Katarzyna Kuchta and Joanna Kamińska, director Edward Page, junior lawyers Dávid Herich, Jiří Krejča, Tomáš Kubala and Petr Ryšina, and trainee lawyer Nihad Agadazi.