Shearman & Sterling represented Francisco Partners in the acquisition of Avangate. Financial terms of the transaction were not disclosed. Founded in 2006, Avangate is headquartered in Amsterdam, The Netherlands, with over 3,000 customers across more than 100 countries. Avangate provides eCommerce solutions trusted by Software, SaaS, and Cloud Services companies to grow their eCommerce business worldwide through any channel, any model. The additional investment from the deal will enable Avangate to expand product development and deliver enhanced customer-centric commerce.

Francisco Partners, based in San Francisco, California, is a leading technology-focused private equity firm.

The Shearman & Sterling team was led by partners Michael Kennedy (San Francisco-Mergers & Acquisitions) and Dana Kromm (San Francisco-Mergers & Acquisitions) and associates Christine Huang (San Francisco-Mergers & Acquisitions) and Joshua Reynolds (San Francisco-Mergers & Acquisitions). Other Shearman & Sterling attorneys involved in the transaction included partners Beau Buffier (New York-Antitrust); Richard Hsu (Palo Alto-Intellectual Property Transactions) and Larry Crouch (Palo Alto-Tax); counsel Daniel Stellenberg (Palo Alto-Executive Compensation & Employee Benefits) and Eileen O’Pray (Palo Alto-Tax); and associates Kelly Karapetyan (New York-Antitrust); Zheng Bao (Palo Alto-Intellectual Property Transactions); Milan Thakker (London-Mergers & Acquisitions) and Ben Petersen (Palo Alto-Intellectual Property Transactions).