PwC Romania’s correspondent law firm D&B David si Baias SCA assisted Testronic Laboratories Limited, a video games service provider, with the transaction to acquire Whyttest, which provides QA testing services and player support in the video games industry.
As a result, 150 technicians from Bucharest- and Belgrade-based Whyttest are joining Testronic, thereby raising its total number of employees to over 1,000. Testronic has subsidiaries in the United Kingdom, Poland and the United States, and is part of the Catalis Group, which also includes Curve Digital, one of the world’s leading publishers of games on PC and consoles, based in the UK.
D&B David si Baias performed the legal due diligence and provided Testronic with M&A assistance on the Romanian legal aspects during all phases of the acquisition. The deal was signed at the end of July 2020 and closed in August 2020.
“In recent months, there have been fears that M&A activity might be blocked due to the COVID-19 pandemic. Despite that, several transactions have been closed in recent weeks and others are starting, which shows that investors’ interest remains high and there are financial resources in the market. Technology continues to be an accelerator of transactions and companies active in such fields are all the more interesting as a result”, said Anda Rojanschi, M&A partner of D&B David si Baias SCA.
The D&B David si Baias team involved in the transaction was led by Anda Rojanschi, Partner, and included Associates Andreea Tortov, Raluca Borsan, Carmen Cretu and Andrei Vlasin.
The British law firm DWF, as lead counsel, and PwC Legal Serbia, also assisted with the transaction.