The Legal 500

Wolf Theiss

Work +43 1 515 10
Fax +43 1 515 10 25
Zagreb, Warsaw, Vienna, Tirana, Split, Sofia and 10 more

Show all Press releases


April 2012

Vienna, 18 April 2012 – WOLF THEISS advised Austrian company Symena Software & Consulting GmbH, a worldwide leader in the development of software for optimising cellular phone networks, in the sale of their business to Aircom Group, an H.I.G. Capital holding.

Wolf Theiss, one of the leading law firms in Central, Eastern and Southeasthern Europe, advised Symena Software & Consulting GmbH and its shareholders on the sale of this company to the UK-based Aircom Group, which is part of the globally operating private equity investor H.I.G. Capital. Founded in 2002 as a spin-off from the Mobile Communications Group at the Technical University of Vienna, Symena established itself as the market leader in Automatic Cell Planning for improving the operation of cellular radio networks.

Partner Dieter Spranz, who managed the transaction on behalf of Wolf Theiss, notes: "For the hugely successful start-up business Symena, the integration into an international player was the next logical step in their growth process. Hence, incentivising all parties involved to leverage the obvious future synergies in an optimal way and providing the necessary legal safeguards on both sides were the specific legal and structural challenges of this transaction."

"In the dynamic environment of the high tech sector, the ability of legal advisers to accurately reflect the complex structures involving various legal systems in a contractual framework at the required speed is a key factor for success," commented Thomas Neubauer, founder and CEO of Symena.

The Wolf Theiss advisory team for this transaction was lead by Dieter Spranz and Counsel Sandra Müller. Vienna-based carpima GmbH and the former CEO of Telekom Austria, Boris Nemšić, acted as M&A advisors.

Headquartered in Leatherhead, UK, Aircom is a provider of network management tools with offices in 14 countries. Aircom is a holding of H.I.G. Capital, a fund specialised in investing in medium-sized enterprises. H.I.G. Capital administrates approximately 50 holdings in Europe and the USA, with total turnovers amounting to approximately EUR 7 billion.

Download Press Release (English)
Download Press Release (Deutsch)
Download Photo Dieter Spranz
Download Photo Sandra Mueller

For more information please visit

Legal Developments by:
Wolf Theiss


    The finance ministers of the European Union met again last week to discuss the plan of introducing a single EU financial transaction tax. According to the plan, a 0.1 percent tax would be levied on bond and capital transactions, while a 0.01 percent tax would be charged on derivatives transactions.
    - Wolf Theiss

Legal Developments in Austria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • The ruling on the field stands: The ECJ follows Advocate General and declares Safe Harbour invalid

    Yesterday, the European Court of Justice (ECJ) followed Advocate General Yves Bot's recommendations in the ECJ Case C-362/14 ( Maximilian Schrems vs Data Protection Commissioner ) and declared the Commission's US Safe Harbour Decision invalid. In brief, Schrems, an Austrian law student, challenged Facebook's practice of storing personal data on U.S.-based servers, a practice that allegedly allows the NSA, or similar United States intelligence organizations, to have easy access to the personal data of EU citizens.  read more...
  • Bulgaria: Range of Eligible Counterparties to Financial Collateral Arrangements Extended to Embrace

    On 14 August 2015, an amendment to the Bulgarian law implementing the EU Financial Collateral Directive and extending its personal scope to "any person" entered into force. The amendment was primarily meant to allow the Bulgarian Bank Deposits Guarantee Fund to serve as an eligible counterparty to repo transactions. However, the new law might have a wider impact, as it allows some SPVs set-up for particular bonds or derivatives transactions that previously did not fall in the personal scope of the law to now serve as eligible counterparties to financial collateral arrangements.  read more... 
  • Turkey: Recognition & Enforcement of an Award

    Enforceability of a foreign award in Turkey requires a recognition lawsuit to be filed before the Turkish courts. The Code on International Private and Procedure Law (number 5718) (the “Law”) explicitly regulates the terms and conditions in this respect.  Read more...
  • Europe: EU-Export Compliance – Loosening of Iran trade restrictions

    In order to prevent Iran from developing a nuclear programme for the construction of weapons of mass destruction ("WMD"), the UN Security Council from July 2006 onwards passed a series of resolutions by which several foreign trade restrictions were imposed on Iran. Consequently, the EU too enacted a series of restrictive measures against Iran through which the UN resolutions have been implemented and materially amended. The EU has imposed additional sanctions against Iran due to human rights infringements and internal repression in Iran. Currently, the following EU trade restrictions are in place:  read more
  • Slovenia: New Employment Legislation Brings Simplifications for Foreigners

    The recently adopted ZZSDT, which enters into force on 1 September 2015, sets out new conditions for the employment, self-employment and work of foreigners and indirectly transposes the relevant EU Directive into national legislation.  Read more... 
  • Czech Republic: Employee share incentive schemes – capital market regulatory assessment

    The Czech law provides – under Act No. 256/2004 Coll., the Capital Market Undertakings Act (the "Act") – the obligation to publish a securities prospectus, if those securities are offered to random investors in the Czech Republic. But does this obligation also apply to employee share incentive schemes and are there any exceptions to this obligation?  Read more...
  • SK: Did you Finish your Homework? Period for Employers to Comply with New Whistleblowing Act Ended

    On 16 October 2014, the National Council of the Slovak Republic adopted Act No. 307/2014 Coll. on Certain Measures Related to Reporting of Anti-social Activities and on Amendment and Supplements to Certain Acts ("Act"), which is considered as the first comprehensive regulation of whistleblowing in Slovakia. The Act came into force on 1 January 2015.  read more...
  • Poland: Changes in the Labour Law

    On 21 August 2015 an act amending the Polish Labour Code was published in the Journal of Laws. The long-expected changes come into force after 6 months from publication. We would like to highlight the following changes:  read more... 
  • Czech Republic: Business Shares in the Community Property of Spouses

    The discussion about the business shares of companies owned in the community property of spouses – regulated by the new Czech Civil Code and Business Corporations Act (both effective from 1 January 2014) – has recently come to a standstill over the question of the consequences of the absence of such a regulation, which was formerly included in the old Civil Code from 1964. This regulation distinguished between proprietary and management issues (corporate issues), which meant that if a married person acquired a business share it did not automatically result in membership in the company for their spouse. Read more
  • Serbia: New Law on Conversion of Right over Construction Land into Ownership against Compensation

    The long-expected Law on conversion of usage right into ownership against compensation (" Conversion Act ") entered into force on 28 July 2015.  Read more...