CMS is advising Solid Brain sp. z o.o. and its shareholders on the sale of a majority stake of shares to IT Kontrakt sp. z o.o., a company belonging to the portfolio of the funds Oaktree Capital Management and Cornerstone Partners.

Krakow-based Solid Brain provides outsourced specialised teams of software engineers and specialists in the design, management and development of software for large international companies.

Solid Brain will join the IT platform created by Oaktree Capital Management and Cornerstone Partners. The investment in Solid Brain is another step towards building a European capital group specialised in outsourcing IT specialists. In 2017 Oaktree Capital Management and Cornerstone Partners acquired IT Kontrakt, creating the basis for the development of the IT platform through further mergers and acquisitions. At that time, lawyers from CMS Warsaw advised Work Service S.A. on the sale of IT Kontrakt.

"The IT outsourcing industry has been a very attractive segment on the Polish transaction market for many years. We see a lot of activity in this area," says Rafal Kluziak, a counsel conducting the transaction at CMS. "Knowledge of the industry and experience gained from previous acquisitions in this sector allows us to significantly improve the negotiation process and transaction structure, and thus reduce the duration and costs of the project."

The transaction is being handled by Rafal Kluziak, counsel and advocate, Jakub Szczygiel, lawyer, and Joanna Bialoskorska, lawyer. Jakub Marcinkowski is the supervising partner.