19. 3. 2020
Headed by partner Jan Diblík, the experts at HAVEL & PARTNERS, the largest Czech-Slovak law firm, provided comprehensive advisory with significant IT aspects on the sale of a company that develops time tracking add-ons, also known as Prime Timesheet. In the course of the acquisition process that lasted several months, Tempo Ehf, an Icelandic IT company with an international ownership structure, acquired the Czech SPV which owns Prime Timesheet.
Several specialised teams at HAVEL & PARTNERS participated in the closing of the transaction. Beside partner Jan Diblík, associate Pavel Zahradníček advised on the sale of Prime Timesheet. Partner Pavel Němeček was responsible for M&A advisory, while associate Monika Vneková and counsel Josef Žaloudek handled the corporate and tax aspects of the transaction, respectively. Leveraging our extensive know-how in the area of technology law and M&A, we ensured the smooth and efficient completion of this comprehensive transaction to the satisfaction of both parties.
Developed primarily by an independent programmer, Prime Timesheet contains one of the most successful add-ons enabling time tracking in the well-known Jira application, which are sold online on the Atlassian Marketplace. All activities of Tempo Ehf., with Diversis Capital, a US investment fund, as its majority owner, focus on creating and licensing software for the Jira application. In acquiring the SPV that owns Prime Timesheet, Tempo Ehf. has picked up its biggest competitor and gained a new business partner, as the founder of the company is to further participate in developing Prime Timesheet after the completion of the transaction.