Legal support for the purchase of a Russian IT-company by a large European IT-company

The Polish Asseco group purchased the controlling share of the large Russian company R-Style Softlab, on the basis of the solutions which the on-line banking service for individual clients of Russian banks functions on. The price of the deal was approximately 28 million USD. The Law Firm "YUST" represented the interests of the foreign party. In particular, the Firm’s specialists conducted legal due diligence of the Russian IT company and ensured legal support of the transaction on the buyer’s side.

The deal with R-Style Softlab opens wide perspectives for the development of business in Russia and the CIS. The shareholder, for the purpose of achieving this, intends to maintain the current strategy of development of the Russian company – the widely diversified product portfolio, relations with partners, and the client policy. The current team will also suffer no changes.

Since the purchase of the controlling share of R-Style Softlab is subject to the special governance of the Federal Law No. 57-FZ “On the procedure of foreign investments into economic companies of strategic significance for the ensuring of the defense of the country and the security of the State” dated 29.04.2008, the lawyers also rendered legal assistance in the matter of obtaining the consent of the Government Commission of control over the foreign investments in the Russian Federation to the deal. Thus, the project involved leading specialists on corporate law, protection of intellectual property, antimonopoly regulation and foreign investments.