Aequo advised George Soros’s Ukrainian Redevelopment Fund on its acquisition of a significant equity stake in the leading global software engineering and solutions company - Ciklum Holding Limited. The Ukrainian Redevelopment Fund is acquiring the entire stake held by Horizon Capital and an undisclosed portion of the stake held by Majgaard Holdings Ltd.
Ciklum is a leading global software engineering and solutions company. Ciklum delivers software engineering excellence to Fortune 500 companies and fast-growing organisations across various industries. The company's 2,500+ developers are located in delivery centres around the world, and provide a range of services including extended software development teams, quality assurance, research & development, product development and engineering consulting.
The Ukrainian Redevelopment Fund is a private investment vehicle focusing on special situations and private equity investments in Ukraine, and on companies with significant operations in Ukraine. As part of its investment process, the Fund endeavours to make targeted investments that have the potential to promote economic and social development in Ukraine
Aequo’s team provided legal support under Ukrainian law in the acquisition process of the and conducted comprehensive legal due diligence of the target.
“This transaction is the first investment of its kind in the Ukrainian IT sector since the Russian aggression and the military conflict in the Eastern Ukraine. It can play an important role in attracting other private investors, especially from Europe and North America to the developing IT services market in Ukraine. We are proud to partner with George Soros’s Ukrainian Redevelopment Fund and deliver high-quality support on this important matter,’’ said Denis Lysenko, Managing Partner, Aequo.
“Aequo is an industry-focused law firm, with a particularly strong expertise in telecommunications, media and technology (TMT). This transaction showcases the strength and capabilities of our firm’s TMT practice. IT is one of the strategic growth areas, fostering innovation and reviving the economy in our country. This investment is crucial to support the significant expansion of the company as well as for development of Ukraine’s IT industry”, added Anna Babych, partner, co-head of TMT, Corporate/M&A, Aequo.