Cloud services for automotive: GvW advises Hexad on sale of business unit to VW subsidiary CARIAD
GvW Graf von Westphalen has advised Hexad on the sale of its Mobility Services Platform business unit to Volkswagen Group company CARIAD. Following approval by the antitrust authorities, the transaction was completed. The parties have agreed not to disclose the amount of the transaction.
Hexad has been offering high-quality software solutions and IT services on the market since 2010 and is a long-standing partner of the Volkswagen Group. The company, which is headquartered in Wolfsburg and has additional locations in Berlin, Frankfurt am Main, Barcelona and Bangalore, is a digital technology partner to numerous global brands and has developed many innovative B2B and B2C solutions for them. With the acquisition of Hexad's Mobility Services Platform business, CARIAD gains new competencies in cloud services development.
CARIAD is an independent automotive software company within the Volkswagen Group. The company provides the technology infrastructure for the Group and develops digital applications for vehicles. More than 6,500 employees work at the company's software competence centers in Wolfsburg, Ingolstadt, the Stuttgart region, Berlin and Munich, as well as through subsidiaries in China and the USA.
GvW advised Hexad on this transaction with a team consisting of Dr Marco Zessel (lead), Jan Hüniken, Sina Reck (all corporate/M&A), Christian Kusulis, Alexander Rösch (both antitrust), Dr Malte Evers (employment) and Sven-Erik Holm (IT and data protection). The transaction was accompanied by Lars-Olaf Leskovar, founding partner of DREYENBERG Rechtsanwälte Steuerberater PartG mbB and former lawyer at GvW, who regularly advises Hexad and the shareholder on tax matters in projects.
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