Milbank LLP advised General Atlantic on its PIPE investment in ATOSS Software AG (ATOSS). ATOSS is a market leader in technology and consulting solutions for professional workforce management and needs-optimized personnel deployment. ATOSS is listed on the Frankfurt Stock Exchange. General Atlantic will purchase approximately 20% of the existing shares in ATOSS and become its second largest shareholder. The shares will be sold by founder and CEO Andreas Obereder, who will remain the largest shareholder. General Atlantic’s stake can be increased by a further almost 5% via options. Andreas Obereder will remain the largest shareholder even if the options are fully exercised. ATOSS plans, supported by General Atlantic, to continue its current business strategy, including in particular the internationalization and further expansion of its successful cloud business. ATOSS intends to leverage General Atlantic’s global approach, deep sector expertise in digitization and cloud strategies, and extensive understanding of growth drivers.
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great businesses and management teams to scale innovative businesses around the world.
The Milbank team advising General Atlantic was led by partner Sebastian Heim (Corporate/M&A) and included partners Norbert Rieger (Corporate/M&A), Matthias Schell (Tax) and Thomas Ingenhoven (Finance), Special Counsel Sebastian Reiner-Pechtl (Corporate/M&A) and Thomas Möller (Finance) as well as associates Pascal Härdtner, Manuel Bogenreuther, Mahmood Kawany, Maximilian Müller, Nick Yousefi (all Corporate/M&A), Arne Hammerich (Tax), Nils Bremer (Antitrust) and Lara Milione (Finance).
