Demarest e Almeida Advogados has helped Procomp Indústria Eletrônica, the Brazilian arm of US security systems company Diebold, acquire GAS Informática, a Brazilian internet banking, online payment and mobile banking security company. The deal, which is of undisclosed value, closed on 31 August and saw Levy & Salomão Advogados advise GAS Informática.
Demarest e Almeida partner Luciana Tornovsky explains that the deal represents “a very strategic acquisition for Diebold”, consolidating its presence in Brazil.
Levy & Salomão partner Daniel Pessoa enthuses that the deal is indicative of a trend towards the “internationalisation of the Brazilian economy”, as Diebold will provide GAS with a global distribution platform for its software. He says that it shows “the amount of investment necessary to continue to develop up to date and innovative solutions and technologies”.
Both lawyers add that one of the most complex aspects of the six month negotiation process proved to be the need to carry out intellectual property due diligence, given the nature of GAS’ core business, which is software development.
Counsel to GAS Informática
Levy & Salomão Advogados
Partners Daniel Tardelli Pessoa and Ana Carolina Monguilod, and associates Christian Galvão Davies and Fernanda Perez Jacomini
Counsel to Procomp Indústria Eletrônica and Diebold
In-house counsel – Chad Hesse, Mary Swan and Maurício de Abreu
Demarest e Almeida Advogados
Partners José Diaz and Luciana Tornovski, and associates Victor Henriques and Débora Sejtman
