Fieldfisher Austria Advised software company TimeTac on investment by Maguar Capital Partners
Fieldfisher Austria Advised software company TimeTac on investment by Maguar Capital Partners
Leading European law firm Fieldfisher has advised TimeTac, a Graz, Austria-based HR tech company known for its digital time recording software, on its strategic partnership with Maguar, a private equity fund focused on B2B software investments in the DACH region. This move aims to expand TimeTac's market dominance in German-speaking countries and fuel further international growth.
Currently, TimeTac's 70 employees support over 3,800 corporate clients across 30 countries, with more than 1,50,000 employees relying on its software daily. This translates to an impressive annual recurring revenue of €10 million in 2023.
Fieldfisher Austria, led by Managing Partner Thomas Ruhm and Data and Technology Partner Philipp Reinisch, guided TimeTac throughout the transaction. "We've been TimeTac's legal partner for years, handling corporate matters and navigating digital compliance challenges," said Ruhm. "We're thrilled to support them on this pivotal step."
The Fieldfisher team also included Counsel Alexander Heitzinger, Senior Associate Gabriela Misic, and Associate Matthias Bavinszki. Other advisors involved in the deal include investment banks Pictet and Houlihan Lokey, accounting firm KPMG, law firms Milbank LLP, Lupp + Partner, and Herbst Kinsky.
