DORDA’s Digital Industries Group, led by Christian Ritschka (Partner, M&A), advised the Austrian startup on its first strategic growth investment.
Vienna, 4 October 2021 – PSPDFKit is a leading document processing and manipulation platform for developers and enterprise businesses. The company serves nearly a billion end-users in over 150 different countries.
Insight Partners is a New York-based global venture capital and private equity firm focused on growth-stage software and technology companies. Its investment of more than EUR 100 million is expected to accelerate product growth and fund strategic acquisitions, further expanding the capabilities of PSPDFKit’s highly adopted document processing platform.
Jonathan Rhyne, Co-Founder and CEO of PSPDFKit remains active with the company, while PSPDFKit co-founders Peter Steinberger and Martin Schürrer are stepping back from their full-time active roles in the business. All three founders will retain a portion of their shares in the business.
The closing of the transaction is subject to regulatory approvals and other customary conditions to closing and is expected to take place in Q4 2021. The parties have agreed not to disclose the purchase price.
DORDA advised the sellers in close coordination with the Austrian Adi Herman (Partner, M&A) of the New York law firm Kramer Levin Naftalis & Frankel LLP, who advised two of the three sellers.
“We are proud to have advised the founders of PSPDFKit on this major investment,” says DORDA partner Christian Ritschka.
The successful advice was made possible not least by the interdisciplinary cooperation of the DORDA Digital Industries Group. The group is currently made up of 18 tech-savvy lawyers from seven different legal fields and lives a proactive advisory approach. Christian Ritschka was the lead lawyer for this transaction. He was supported by Paul Doralt (Partner, Tax), Julia Berent (Attorney at law, Corporate), Mike Schaunig (Associate, M&A), Heinrich Kühnert (Partner, Competition and antitrust), Bernhard Rieder (Partner, Corporate), Nino Tlapak (Partner, Data protection), Lisa Kulmer (Attorney at law, Employment) and Bernhard Heinzl (Attorney at law, IP/IT).