Global law firm White & Case LLP has advised Momentum Software Group AB (Momentum Software) on the takeover by Aareon AG (Aareon), acting through Mary Bidco AB, whereby Aareon has acquired 93 percent of the outstanding shares in Momentum Software at a valuation of approximately SEK 1.8 billion.
Momentum Software is a Nasdaq First North Growth Market-listed software as a service (SaaS) company that offers cloud-based property systems to Swedish property owners and managers.
Aareon is a Germany-based leading provider of enterprise resource planning (ERP) software and digital solutions for the European property industry and is owned by financial sponsor Advent International and Aareal Bank, the latter of which was recently subject to a takeover offer by Advent International and others.
The White & Case team in Stockholm which advised on the transaction was led by partners Patrik Erblad and Johan Thiman and included associates Monica Ericson and Karl Nordlin.
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