Allen & Overy LLP has advised Exact Group B.V., Delft, the Netherlands, at the sale of all shares in Exact Software Deutschland GmbH, a provider of payroll solutions, to Sage Software GmbH.

The transaction is conditional upon the approval of the German Federal Cartel Office.

The sale was made in form of an auction which several bidders have participated in.

The Allen & Overy Team was led by Partner Dr Hans Schoneweg (Corporate/M&A, Hamburg) supported by Senior Associate Dr Sten Frenzel (Corporate/M&A, Munich). Furthermore, partners Dr Jens Matthes (IP, Dusseldorf), Dr Asmus Mihm, Dr Heike Weber (both Tax, Frankfurt a.M.), Markulf Behrendt (Employment, Hamburg), counsel Marie-Luise von Buchwaldt (Corporate/M&A, Hamburg), senior associate Dr. Dorothea Tachezy (Corporate/M&A, Munich), associates Evelyn Grass (Anti-Trust, Hamburg), Miray Kavruk (IP, Dusseldorf), Vera Thiemann (Anti-Trust, Hamburg), Sören Seidel (Employment, Hamburg) as well as tax advisor Peter Seidel (Tax, Frankfurt a.M.) were involved.