With a team led by Holger Ebersberger and Thomas Diekmann, McDermott Will & Schulte represented Levine Leichtman Capital Partners-backed cleversoft group on its acquisition of FAIT Internet Software GmbH, an Austrian B2B FinTech company.
The acquisition expands cleversoft's existing portfolio with flexible front-end technologies and additional services for integrated end-to-end workflows in digital financial advisory, portfolio management, and asset management.
The transaction is subject to customary regulatory approvals and is expected to close later this year.
Headquartered in Munich, Germany, and with offices in Frankfurt, Luxembourg, Amsterdam, The Hague, Malta, Sofia, Seville, Istanbul, Dubai, and Kuwait, cleversoft provides more than 1,200 financial institutions worldwide with automated solutions to optimize business-critical compliance processes.
FAIT (Financial Analysis and Investment Technology) is an Austrian FinTech company that develops software solutions for digital investment advisory and asset management. The company provides banks, FinTechs, and insurance companies with software products, APIs, and consulting services related to digital securities advisory.
The McDermott team was led by Holger H. Ebersberger and Thomas Diekmann and included Florian Schiefer, Manuel Weiß and Julia Külzer.