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King & Wood Mallesons SJ Berwin Advises on Sale of Digital Banking Technology Specialist

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King & Wood Mallesons SJ Berwin has advised the Euroventures III private equity fund on the sale of IND Group, a digital banking technology specialist, to Misys. The size of the transaction was not disclosed.  

IND Group's eight offices include locations in Russia, Romania, Poland, Slovakia, and Hungary. 

Misys specializes in software for banking, capital markets, lending, and enterprise risk and investment management. The acquisition of IND Group builds on the partnership that Misys signed with the company in March 2013 and supports its goal of expanding existing core banking capabilities through the addition of consumer-orientated solutions. 

Euroventures III is led by the CEE-based private equity firm Euroventures, a long-established independent private equity firm in Central Europe that invests in private companies in innovative industries, with the goal of helping management teams build their businesses into regional companies.

Founded in 1997, IND Group is a leading innovator and supplier of online, mobile banking and personal financial management tools. Euroventures III invested in the company in 2007 with the goal of supporting the continued growth of IND’s product development and expansion plans. IND now operates on three continents in 15 countries, providing proficiency and technology to more than 30 banks worldwide.

Andrew Wingfield, Partner at King & Wood Mallesons SJ Berwin, said: “This was a highly strategic investment by Euroventures, who six years ago saw potential in IND to become a leader in the rapidly evolving e-payments market. It’s a market that continues to develop and something that our clients are excited about.” Wingfield was assisted by Corporate Associate Jamed Darbyshire.

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AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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