COBALT advised Tilde in sale of Jumis Pro to Visma

COBALT advised leading Latvian IT company Tilde in sale of its accounting and business management system business Jumis Pro to a leading Nordic IT company Visma.

Jumis Pro is a provider of Tildes Jumis, a suite of accounting and business management systems, used by more than 10,000 small and medium-sized enterprises in Latvia, including accounting service providers. Jumis Pro was formed as an independent company in August 2020 after separating from SIA Tilde, and it will continue to operate as a separate entity within Visma.

COBALT M&A team provided comprehensive legal advice to Tilde within the transaction, including assistance in the spin-off of its accounting and business management system business, drafting transactional documentation and representing the client in negotiations with the buyer.

The team was led by Managing Partner Lauris Liepa and included Partner Sandija Novicka, Associates Marija Berdova and Jānis Sarāns.