Willkie represents Parallels Holdings Limited, a global leader in IT solutions, in the carve-out and sale of its Switzerland-based web server and website administration platform, Plesk, to Oakley Capital for $105 million.
On April 28, Willkie client Parallels Holdings Limited, a global leader in IT solutions announced that it had carved out and sold its Switzerland-based web server and website administration platform, Plesk, to Oakley Capital at an enterprise value of $105 million.
Plesk is a leading cloud WebOps platform which allows users to run and grow applications, websites and hosting businesses. Over 50 percent of the world’s top 100 hosting service providers partner with Plesk, and its software runs on over 300,000 servers and operates on over 10 million websites and over 15 million mailboxes. Parallels Holdings Limited will continue to own its ‘Parallels’ cross-platform solutions business unit and its ‘Virtuozzo’ business unit, which develops market leading container virtualization technology.
The transaction and the reinvestment by the founders alongside Oakley Capital was handled by partners Gordon Caplan and Matthew Dean and associates Howard Block, David Wall, Gerry Kelly and Joshua Begner, with tax advice from UK partner Judith Harger and associate Shinasa Wasimi. UK partner Sebastian FitzGerald and associate Aymen Mahmoud provided finance advice and associate Matthew Makover provided IP/IT advice.