DLA Piper has advised the comparison portal website Verivox on the takeover of the business operations of Outbank from insolvency proceedings. Outbank offers its customers a multi-banking app and was originally founded as a start-up. Belonging to ProSiebenSat.1 Media SE, Verivox is thus expanding and optimizing its portfolio of tariff and price comparisons. The parties agreed not to disclose the purchase price.

Verivox is an independent consumer portal for contracts concerning the topics of electricity and gas, Internet and mobile telephony, finance and insurance, travel, commission-free properties, cars and motorcycles. The company employs approximately 400 people.

The DLA Piper team was led by Frankfurt-based Corporate partner Dr Mathias Schulze Steinen, supported by a Munich-based team of Employment partner, Pascal Kremp, Restructuring partner Dr. Dietmar Schulz, Restructuring counsel Florian Bruder and Frankfurt-based Intellectual Property & Technology counsel Dr. Fabian Klein.