Baker McKenzie Turkish affiliate Esin Attorney Partnership has advised TeamSystem on its acquisition of a 53% stake in the Mikro Group from Dash Software, Izzet Murat Sakarya, Alpaslan Tomus, Kadir Keskin, Xiang Yu, and Andac Turkmen through a bid process. Verdi advised the sellers.
Both companies have launched or are currently looking forward to launching new cloud-based/SaaS products.
According to Esin, the Mikro Group and TeamSystem share a "very similar development model in terms of user design investments, product portfolio, targeted markets, and needs met." The sellers, who will hold 47% together after closing, are given exit options exercisable in multiple tranches. And upper management will also execute management contracts and remain in the Mikro Group post-closing for additional terms.
The Esin team included Managing Partner Eren Kursun, Partner Caner Elmas, Senior Associates Sila Pinar and Erman Ertan, and Associate Sam Gizem Sozer.
The Verdi team included Partner Ayse Demirel, Senior Associate Dogac Gunaydin, Associate Ezgi Ozmarasali, and Junior Associate Yaren Kinalioglu.