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m law group advises 12snap on management buy-out

10.04.2007

On April 4, 2007, Management of 12snap AG, Dr. Michael Birkel, Bernd Mühlfriedel and Stefanie Krebs, together with the for- mer Chairman and CEO of Grey Global Group EMEA, Bernd M. Michael, and the sole shareholder of 12snap, NeoMedia Technologies, Inc., Ft. Myers, agreed on a Management Buy-Out.  

Under the Buy-Out agreements Mr. Mi- chael and 12snap Management acquired 90 % of the shares. NeoMedia remains a 10 % shareholder of 12snap. Furthermore, 12snap and NeoMedia entered into a strategic part- nership agreement providing for joint de- velopments and use of future products and services.  

As part of the Buy-Out, 12snap´s former silent partners, Bayernkapital and tbg, were also fully paid out.  

12snap is a leading mobile marketing com- pany offering services to global companies such as Coca-Cola or Ferrero.  

The new shareholder structure shall enable 12snap to build a long lasting international leadership position in the areas of mobile marketing, M-CRM and related services.  

m law group advised Bernd Michael and 12snap Management in all legal aspects of the transaction.  

Legal advisors Bernd M. Michael and 12snap Management, Dr. Michael Birkel, Bernd Mühlfriedel, Stefanie Krebs:
m law group: Rainer Kreifels (lead, corporate), Dr. Johannes Maidl (corporate), Diana Massa (corporate).  

Legal advisors NeoMedia Technologies, Inc.:
Freshfields Bruckhaus Deringer, Munich: Dr. Ferdinand Fromholzer, LL.M., Dr. Sebastian Olk, Silke Beiter.  

Legal advisors silent partners 12snap AG, tbg Technologie-Beteiligungs-Gesellschaft mbH, Technologie Beteiligungsfonds Bayern GmbH & Co. KG:
Weitnauer Rechtsanwälte Wirtschaftsprüfer Steuerberater, Munich: Dr. Wolfgang Weitnauer, M.C.L.

Practice Area: Corporate & Compliance
Industry: Information and Communication Technology