Schoenherr advised the RegTech start-up 360kompany AG and its shareholders on the sale to Moody's Corporation, on what is purported to be one of the biggest exits in Austria's start-up scene to date.
The purchase price will be funded with a combination of cash and shares from Moody's Corporation's common stock, and the deal value remains confidential. The transaction is subject to the satisfaction of customary closing conditions and expected to close in the first quarter of 2022.
"We are proud to have advised on this significant start-up exit, it is an exciting new step for 360kompany AG and a remarkable headline transaction for Austria's start-up scene", said partner Robert Bachner who led the Schoenherr team. "Coordination of 26 mainly international sellers was an exciting project; congratulations to all involved parties!"
360kompany AG is the leading RegTech platform for global business verification and Business KYC (KYB) for AML compliance. Clients include global and international banking groups, FinTechs, Big Four accounting firms, law firms, Banking-as-a-Service and compliance platforms, and multinational corporations. 360kompany AG is headquartered in Vienna, Austria, with offices in London, New York, and Singapore.
Moody's (NYSE: MCO) is a global integrated risk assessment firm providing data, analytical solutions and insights, which help decision-makers identify opportunities and manage the risks of doing business with others. With over 13,000 employees in more than 40 countries, Moody's combines international presence with local expertise and over a century of experience in financial markets.
The Schoenherr team advising on the transaction was led by Robert Bachner (partner) and Alfred Amann (attorney at law), and further consisted of Daniel Wadl (associate).