Keystone Law advises on second cross-border software deal

Keystone Law has advised London-based software company Old Street Solutions, on agreeing to sell its Slovakian subsidiary, Amovos s.r.o. and its flagship app, Custom Charts, to Tempo Software.

Since its incorporation in 2018, Custom Charts has become one of the fastest growing paid apps in the Atlassian Marketplace and is a Plug-in for use with Atlassian’s Jira and Confluence software.

Tempo Software is an acquisitive project management software specialist backed by Los Angeles-based software and technology investment specialist, Diversis Capital.

This multi-jurisdictional deal involved legal aspects in the UK, Germany, Slovakia and the USA.  Keystone acted as lead counsel and co-ordinated a cross-border team of lawyers in the UK, Slovakia and the USA.

Led by corporate partner Ed Dawes, the Keystone team included tax partner Paul McCourt, commercial and data protection partner Rupert Casey and trainee solicitor Mark Turner.

Ed and the team worked closely with Old Street’s corporate finance advisers Bamburgh Capital and leading German software investor resolution Reichert Network Solutions GmbH, on the deal.

This is the second cross-border transaction that the Keystone team have advised on within the Atlassian ecosystem within the last year, having previously advised the owners of fast-growing project management app developer Jexo Tech to US based Appfire Technologies in December 2022.

Chris Cooke, CEO at Old Street Solutions, said:

“The Keystone team were responsive, commercial, and committed throughout. Their ability to quickly get to the nub of any issue added real value and we couldn’t have done it without the collective expertise and guidance of Ed and his colleagues and Bamburgh Capital.”

Ed Dawes added:

“These two successive European/US cross border mergers demonstrate not only the continuing strength of activity in tech M&A, but also the effectiveness of the common, but distinctive, approach that characterises both Bamburgh Capital and Keystone; both organisations specialise in senior professionals, with the experience and confidence to give honest bold and creative advice, being actively and deeply involved throughout the project. These deals demonstrate the success of that formula.”