itm8 enters the German market through the acquisition of CBC

Bird & Bird provided legal guidance to itm8 regarding the acquisition.

Bird & Bird provided legal guidance to itm8 regarding the acquisition.

Digital transformation partner itm8 purchased CBC Computer Business Center with legal support from the international law firm Bird & Bird. As part of the transaction, itm8 will acquire all CBC shares

The Bird & Bird team was led by partner Stefan Münch and consisted of many lawyers from various offices of the firm: legal counsel Janine Lanfermann-Schmid, associate Kilian Hummel, legal counsel Dr. Christina Lorenz (corporate), partner Dr. Ralph Panzer, partner Cara -Marlene Fuchs, legal counsel Sandy Gerlach (labor), partner Dr. Henriette Picot, associate Thomas Magosch, legal counsel Michaela von Voß and associate Paulina Jacob (commercial) from the Munich office; associate Alisa Paselk (labor), partner Dr. Stephan Waldheim, partner Tamy Tietze and partner Maren Steiert (merger control) from the Düsseldorf office; partner Johannes Wirtz, partner Timo Förster (finance), partner Rolf Schmich and advisor Michael Brüggemann (tax) from the Frankfurt office; partner Mette Jakobsen, partner Morten Rosenmejer, partner Kristoffer Saugman (corporate), partner Morten Nissen, partner Nanna Krabbe (merger control) and partner Jesper Langemark (commercial) from the Copenhagen office; and partner Ivan Kisely (merger control) from the Bratislava office.

Under the agreement, itm8 will take over a Frankfurt company with offices in Frankfurt and Essen and employing 125 employees, which will enable itm8 to expand into Germany. The acquisition will further facilitate the provision of a range of services to itm8 customers, including cloud solutions, cybersecurity, digital transformation and application services.

itm8 CEO Henrik Kastbjerg commented: “Just six months after realizing our vision of becoming a Northern European IT powerhouse, we are taking our first big step into Europe. The German market is a natural first stop in realizing our growth ambitions, including through acquisitions, in Europe.”

He added: “We are showing our hand by planning for CBC to be the foundation in the central itm8 region in Germany. In addition, we have drawn a map with the regions of the north, south, east and west, where we still have empty areas – and the goal, of course, is to fill this map with new names.

The transaction is expected to close in the second quarter of 2024, subject to customary regulatory approvals.