Norton Rose Fulbright has advised L-Bank in respect of a majority takeover agreement between On-Net Surveillance Systems, Inc. (“OnSSI”) and SeeTec AG (“SeeTec”). Since 2009 L-Bank has been a major investor in SeeTec. The complex transaction was realized by way of a cross share deal.

SeeTec is a privately held Germany-based company that has built an excellent reputation as a provider of video management software (VMS) to European markets, while OnSSI is one of the leading publishers of such software in the US. Under the terms of the agreement, OnSSI will acquire SeeTec with the aim of providing strong VMS software solutions across multiple vertical markets globally. L-Bank specializes in high-growth technology companies through its €100 million venture capital portfolio. The transaction volume remains confidential.

The Norton Rose Fulbright team was led from Frankfurt by partner Holger Scheer and included senior associate Christoph Breithaupt and associate Julia Rosigkeit as well as Of Counsel Frank Bayer of the Munich office. Partner Michael R. Flynn and associate Aaron Chan of the New York office of Norton Rose Fulbright provided advice on US aspects of the deal.

Norton Rose Fulbright has previously advised L-Bank on a number of transactions. L-Bank has invested in several companies within the enterprise software sector, including BEONTRA, BrandMaker, IntelliShop, legodo, Netviewer, and Trufa.