HAVEL & PARTNERS’ specialised M&A team represented the Genesis Capital group, a private equity fund focused on Central Europe, on the sale of a 100% share in the Czech SW development company CN Group, which was taken over by Ciklum, a global company specialised in software development and digital services.

The firm’s partner Václav Audes, senior associate Veronika Filipová and a legal assistant Filip Pavlík provided comprehensive transactional advice to Genesis Capital.

Genesis Capital offers small and medium companies in Central Europe assistance in financing their growth and development. The company has been a long-standing client of HAVEL & PARTNERS, whose specialist not only assisted with the sale of CN Group but also provided legal advice when more than two years ago the fund bought a share in this Czech software company as its first IT acquisition.

"The Genesis Capital Funds acquired CN Group from its founders in 2019 when dealing with succession issues. Over the past 2.5 years, Genesis Capital, together with the management team led by CN Group CEO Michal Širica, has achieved extraordinary multi-fold growth in the company's revenue and profitability. We are very proud of what has been achieved since our investment in CN Group and wish the entire team continued success," said Martin Viliš, the Genesis Capital partner responsible for the project.

CN Group is based in Prague and employs 360 digital technology experts. The company provides software engineering, IT consulting and mechanical software design services on more than seven markets.

The company has now been acquired by global IT company Ciklum, which offers software development and digital services to the world's leading companies and employs more than 3,500 software developers, designers, product managers and data scientists worldwide.