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COBALT advised AGACAD shareholders on the sale of its shares to the French company ARKANCE

2021-02-15

COBALT advised AGACAD shareholders on the sale of its shares to the French company ARKANCE – Europe’s fast-growing leader in the digital transformation of construction and manufacturing and a subsidiary of France’s GROUPE MONNOYEUR. 

For a group of companies counting its second century, active in the fields of energy, construction and agricultural machinery manufacturing and the digitalisation of construction and industry, AGACAD will help to create and implement innovations in the European construction industry. To achieve this goal, the AGACAD specialized software development center in Vilnius should grow significantly.

ARKANCE, a major influencer in the digitalisation of the European construction industry, has acquired a 100 percent stake in AGACAD.

Founded 30 years ago, AGACAD has always been a pioneer in digital technologies for the building industry. Today, the AGACAD product list includes more than 30 programs that address various BIM tasks. It's the world's largest set of specialized Revit tools, from modeling of prefabricated frame or precast concrete elements and data transfer to production, to BIM information management tools.

D. Aksomitas, AGACAD’s Managing Director, emphasizes that after joining ARKANCE, the company plans to expand AGACAD's research and development activities and the existing team of software developers in Vilnius.

"AGACAD will become an even more dynamic and globally recognized workplace. Vilnius, which is currently known as the International Financial Technology (FinTech) Center, may also become known as a digital construction center,” predicts Managing Director of AGACAD.

COBALT drafted transaction documents, assisted the client in negotiations, and advised on all aspects of the transaction. The team consisted of Partner and Head of the Mergers and Acquisitions (M&A) Practice Group Juozas Rimas, Managing Associate Deimantė Pagirienė and Associate Milda Vaznelytė.