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Exit and re-investment: CMS advises PE investor FLEX Capital on sale of majority stake in Egoditor to Bitly Inc.


Berlin – FLEX Capital, a private equity investor focusing on mid-market software and Internet companies in the German-speaking countries, has sold the majority of its shares in Egoditor GmbH. Egoditor is the market leader for QR code software. The acquirer of the majority stake is Bitly Inc., the world’s most widely used URL shortening service. Together with the founders, FLEX will reinvest a substantial portion of the purchase price in Bitly. Over the previous two years, FLEX and the founders increased sales by around 250% to more than EUR 30 million in annual recurring revenues, boosted profitability further and made Egoditor a global provider of QR code software.

A CMS team headed by lead partners Dr Jörg Zätzsch and Jesko Nobiling advised FLEX on all legal aspects of the transaction. The SME private equity fund regularly relies on the expertise of CMS. The Berlin team headed by Zätzsch and Nobiling previously advised FLEX when it acquired the shares in Egoditor. Investors, start-ups and founders of tech companies regularly access the law firm’s expertise.

CMS Germany

Dr Jörg Zätzsch, Lead Partner, Corporate / Venture Capital, Berlin
Jesko Nobiling, Lead Partner, Corporate / Tax, Berlin
Dr Dirk Baukholt, Counsel, Corporate, Frankfurt/Main
Dr Friedrich von Spee, Counsel, Berlin
Dr Martin Eichholz, Senior Associate, Berlin
Charlotte-Sophie Unger, Associate, Berlin, all Corporate / Venture Capital
Dr Rolf Hempel, Partner, Competition, Stuttgart

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