International law firm Bird & Bird has advised Karl Viertel, Stefan Sulistyo, Manuel Reil and Matthias Danner, founders of the Munich-based start-up Alyne GmbH, on the sale of their shares to the Texas-based technology group Mitratech. In addition to the founders, the other shareholders including Alstin Capital and the investment arm of HDI Insurance have also sold their shares. Approval from the Australian authorities to complete the transaction is still pending.
Mitratech is a leading global technology provider of legal and compliance software, serving 1,200 companies of all sizes around the world and representing nearly 40% of the Fortune 500 and over 500,000 users in more than 160 countries.
Alyne is based in Munich and offers an innovative governance risk compliance (GRC) platform that provides risk analysis methodologies and intelligent workflows to manage the complete risk lifecycle. By providing next-generation content-driven RegTech software with artificial intelligence, the company enables organisations to improve their cybersecurity, risk management and compliance capabilities. Currently, the company employs around 50 people and counts mainly corporations from highly regulated markets, such as banks, insurance companies, asset managers or companies from the manufacturing sector among its customers. In addition to its headquarters in Munich, Alyne has offices in London, New York and Melbourne.
The parties have agreed not to disclose the purchase price. As part of the takeover, Karl Viertel, one of the four founders of Alyne, takes up the role as the General Manager of the GRC business unit at Mitratech.