Shearman & Sterling advised funds advised by Equistone Partners Europe (Equistone) and the portfolio company Timetoact Group, a leading provider of IT services for medium-sized businesses, large corporations and public institutions in Germany, Austria and Switzerland, on the financing of the add-on acquisition of software transformation expert PKS Software GmbH.
Both companies’ long-term partnership will now be continued and expanded under the umbrella of TIMETOACT GROUP. PKS’s existing directors Heidi Schmidt and Roland Zurawka will continue to lead the company, while Heidi Schmidt is also reinvesting as a shareholder in TIMETOACT GROUP.
Timetoact Group, headquartered in Cologne, currently comprises eight specialised company brands at 16 locations across Germany, Austria and Switzerland: ARS, Cloudpilots, edcom, IPG, novaCapta, synaigy, Timetoact and X-Integrate.
Established in 1991, PKS specialises in the customer-specific development of tailored, business-critical software. Its focus is on optimising mature software landscapes so that companies can collaborate with their customers and suppliers in a way that is efficient, up-to-date and error-free.