Willkie Farr & Gallagher LLP: Willkie advises peakwork AG and its Shareholders in the financial investment of TUI Ventures in peakwork AG
peakwork AG, established in 2009, is the software specialist for the travel industry. With its innovative and unique worldwide Player-Hub technology(R), peakwork has set new standards in the sector, resulting in higher quality, quantity, accuracy and speed in producing and selling travel products. The high-performing software and decentralised partner network provide unbeatable advantages for tour operators, distributors and the end consumer. TUI has already used peakwork technology for its dynamic packaging business model, for instance in Spain and Portugal.
Background of the transaction:
TUI Ventures has acquired a stake in peakwork AG. With this transaction, the financial investor is investing in the technology provider for the tourism. The two partners are aiming to establish a global market standard for the distribution of tourism services. peakwork AG's innovative Player-Hub technology and the growing global partner network offer an ideal basis to meet the increasing requirements in tourism on an international level. TUI Group's capital investment company has acquired a 15.4 per cent stake in peakwork and has become the Düsseldorf-based company's first anchor investor. The company is planning to attract further investors. The parties have agreed not to disclose the investment price. The investment was facilitated through a capital increase and shares from existing peakwork shareholders.
The Willkie team was jointly led by Dr. Stefan Jörgens and Mario Schmidt (both Corporate, Frankfurt), and included partners Dr. Axel Wahl (Corporate, Frankfurt) and Susanne Zühlke (Antitrust Brussels/Frankfurt); Associates: Christina Mann, Dr. Stefan Bührle, Johannes Eckhardt, Miriam Wolffsky und Ilie Manole (all Corporate Frankfurt).
Willkie Farr & Gallagher LLP is an international law firm, comprising more than 650 attorneys with offices in New York, Washington, Houston, Paris, London, Milan, Rome, Frankfurt and Brussels. The headquarters are in New York, 787 Seventh Avenue, Tel.: 001 212 728 8000.
Frankfurt am Main, November 11th, 2016
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