Zenitech completes acquisition of Hungarian software development company, AutSoft

In cooperation with Stevens & Bolton LLP, Lakatos, Köves & Partners (“LKT”) advised Zenitech group, a leading UK based business transformational technology group pursuing information technology consultancy activities on the acquisition of Autsoft Zrt., a pioneer Hungarian company engaged in customized software development (relating to complex systems, E2E solutions according to clients’ unique needs and modern development methodologies) and, innovative software solutions in artificial intelligence, loT Platforms, virtual reality area. Autsoft Zrt. is furthermore also known as one of the largest mobile developers in Hungary, on both iOS and Android platforms. Zenitech’s intention to buy AutSoft was announced in May 2022, and the acquisition has been completed in September 2022, having gone through regulatory approvals.

The deal is part of a strategy by Zenitech to grow and expand its operations in and commitment to Hungary. Last year it launched a technology centre in Miskolc.

AutSoft was originally founded at the Budapest University of Technology and Economics (BME), and grew to the 150-strong team it is today. It continues to work closely with BME on high-profile and pioneering R&D projects, as well as on innovative commercial projects for enterprise customers, particularly in the banking and financial services sector. The deal allows Zenitech work with a wealth of talented engineers and professors from one of the best technology universities in Europe, who will provide thought leadership, R&D and access to cutting edge technical prowess to support Zenitech’s clients.

The LKT legal advisor team was led by Iván Sólyom, Partner, Head of Corporate and M&A and included Kornél Dirner, Senior Corporate and M&A lawyer.