Shearman & Sterling advised in-tech GmbH (in-tech) on the acquisition of data communications expert Ruetz System Solutions. Georg Janker and Wolfgang Malek, founders and managing directors of Ruetz Systems Solutions, will remain on board. The closing of the transaction is subject to the approval of the German Federal Ministry of Economics and scheduled for the current second quarter.
Ruetz System Solutions, headquartered in Munich, specializes in in-vehicle data communications and is regarded as a competent technology partner for in-car networking.
in-tech, also headquartered in Munich and a portfolio company of DBAG Fund VIII, is a global technology solutions provider offering consulting and engineering services. The developers and engineers at in-tech develop solutions for the automotive, eMobility, transport systems and smart industry sectors. Most of the revenues are generated in the automotive and automotive supply industry. With the acquisition of Ruetz System Solutions in-tech is expanding its Connected Services Portfolio.
The team led by partner Thomas König advises DBAG funds on a regular basis, most recently on the acquisition of in-tech.