On October 5, 2020, Avaloq Group (Avaloq), a Swiss-based global leader in digital banking solutions, core banking software and wealth management technology, announced that NEC Corporation (NEC, TSE:6701) had agreed to acquire a 100% shareholding in Avaloq. NEC is a leading Japanese-based IT group focused on the integration of IT and network technologies that benefit businesses and people around the world, with office locations in more than 50 countries. Under the agreement, NEC will acquire all outstanding shares from the existing shareholders, which includes the founders, current and former employees as well as private equity firm Warburg Pincus. The transaction values Avaloq in excess of CHF 2 bn and is subject to regulatory approvals.
Homburger acted as global transaction counsel to Avaloq and the majority shareholders. The Homburger team was led by partner Heinz Schärer and included partner David Oser, associates Philippe Baumann and Angela Oppliger and junior associate Cédric Berger (all Corporate | M&A), partner Marcel Dietrich and associate Allegra Arnold (both Competition | Regulatory), partners Georg Rauber and Luca Dal Molin and associates Valentin Fluor and Kirsten Schmidt (all IP | IT and Data Protection | Privacy), as well as associates Marc Vogelsang and Philippe Gobet (both Tax).