On November 11, 2020, CEE Legal Matters reported that the Apak Uras Law Firm had advised Teknoser on its acquisition of 100% of the shares of Fujitsu Technology Solutions Bilisim from shareholders Fujitsu Technology Solutions GmbH and Fujitsu Technology Solutions Holding B.V. CEEIHM spoke with Doruk Ozdemir, Legal Counsel at Hitay Holdings, to learn more about the deal.
CEEIHM: To start, please tell our readers a few words about Hitay Holding in general and Teknoser in particular.
Doruk: With roots going back to its 1980 founding by Emin Hitay, one of the leading entrepreneurs in Turkey, Hitay Holdings is a major investment group in Turkey, focusing on corporate venture capital. The Hitay portfolio currently includes: Teknoser, a system integration and field services company; DORinsight, the largest online research company; Exim, offering security technologies solutions, and Bilyoner, the first and leading legal online sports gaming company in Turkey.
The Hitay Foundation, which was established in 2019 to gather Hitay Holding’s corporate social responsibility activities under one roof, supports society in the fields of arts and education.
Teknoser, founded in 1998, is one of the leading system integration and IT field service companies in the information and communication technologies market in Turkey with its 76 service points and over 850 employees. Cloud computing systems, virtualization, security, and hardware and software solutions are all provided by Teknoser’s extensive organization, which helps its clients manage their budget, time, and human resources effectively with its technological expertise of many years. The company is the market leader in field services of POS systems.
CEEIHM: What was the business case behind acquiring 100% of the shares of Fujitsu Technology Solutions Bilisim?
Doruk: It was a horizontal expansion for us, allowing us to reach out to a wider audience on the back of Fujitsu products and services. Along with the transaction, we also became the Tier 1 Channel Partner and local service provider in Turkey to fortify our collaboration. Customers can expect a smooth transition and will continue to have access to Fujitsu Client Computing devices, servers, and storage products, as well as seamless support services through Teknoser. The acquisition will allow us to support and enhance the Fujitsu ecosystem in Turkey. We will have access to more products and enrich our solutions portfolio.
CEEIHM: What would you say was the most complex aspect of the deal from a legal perspective?
Doruk: The current pandemic is unprecedented in its global reach and impact. Lockdowns, business closures, and social distancing cause disruptions in our daily business life. The deal took place under these circumstances and we had to make the most of our meetings online. It was a challenging time for the world but both of the parties managed to deal with this compelling circumstance with their best efforts and make this deal happen.
CEEIHM: How was the legal work split between your in-house legal team and your external legal adviser, Apak Uras?
Doruk: In this deal, the in-house team mainly worked on the future partnership agreements and technical aspects like our Channel Partner Agreement and the service-related issues with the collaboration of our technical and sales team. Apak Uras assisted us with the preparation of transaction documents and during negotiations. They were also there when we asked for their opinions on other deal-related agreements. There was a good work split between us.
CEEIHM: And, while we're on the subject, why did you choose Apak Uras in particular to assist on this deal?
Doruk: Apak Uras is a very experienced firm in M&A transactions. The team members assisted the group previously in another deal as well a few years ago. For this reason, they know the group and our needs very well. Due to their previous engagements for the group, we have decided once again to work with them on this deal.
Originally reported by CEE In-House Matters.