Willkie advised AddSecure on the transaction.
On November 20, AddSecure, a leading European provider of premium IoT solutions with a focus on secure critical communications and data, announced that it has entered into an agreement to acquire International Security Group GmbH (ISG), a leading German innovator in technology-driven video Surveillance-as-a-Service. ISG offers a comprehensive portfolio of mobile video surveillance solutions marketed as Video Guard to customers within industries such as construction, logistics and infrastructure.
With the acquisition, AddSecure enters the attractive video surveillance market, a growth market with vast potential. The mobile video surveillance market in Germany, ISG's core market, is expected to grow at over 30% p.a. with similar growth rates possible in other European geographies given the markets are relatively nascent.
AddSecure, founded in the early 1970s, today employs more than 830 staff in 15 countries. AddSecure is headquartered in Stockholm, Sweden, and has regional offices as well as a network of distributors all over Europe. AddSecure is majority-owned by funds managed by Castik Capital, a European private equity fund.
Willkie advised on all aspects of the transaction in Germany and in addition, KNPZ Rechtsanwälte advised on IP issues.
The Willkie team was led by partner Dr. Axel Wahl and included partner Dr. Bettina Bokeloh, counsel Dr. Moritz Vettermann, and associates Martin Waśkowski, Karsten Silbernagel, Philip Thürmer and Fabian Peitzmeier.