We assisted the Lithuania-based market-leading public web data gathering solutions provider Oxylabs in acquiring Webshare Software Company based in Silicon Valley.
Sorainen partner Mantas Petkevičius, who advised the client in this transaction, says that this is likely the first case when a Lithuania-based business has acquired a Silicon Valley company.
First acquisition in Silicon Valley
“Webshare is playing an essential role in the proxy market ecosystem by providing fast and affordable solutions, the quality of which is praised by their clients. Achieving rapid industry recognition is an impressive accomplishment, made possible only by the immensely talented people of Webshare. With the addition of our technical expertise and industry experience, we will help them get established as one of the key players in the industry, while maintaining their explosive growth,” says Julius Černiauskas, CEO of Oxylabs.
The exact amount of the transaction is undisclosed, but according to Oxylabs, it exceeds USD 50 million.
“This is the first such acquisition for our market. It might not seem an extremely high value for a transaction in the United States; however, if it was an investment in a Lithuanian company, it would be considered a significant amount. The fact that Lithuanian business is planting its flag in Silicon Valley with such an amount is impressive. The transaction shows that money is flowing not only to Lithuania but also from Lithuania – Lithuanian businesses are looking for ways to create added value abroad. This is a new stage of market maturity,” comments Mantas Petkevičius.
Webshare Software Company is a distinguished self-service proxy company whose portfolio includes over 10,000 active customers, including numerous Fortune 500 companies.
Oxylabs was established by Tesonet Accelerator in 2015. This year, the company was ranked among the fastest-growing European companies in the latest Financial Times report FT1000, and became one of the quickest-developing public data acquisition companies. Oxylabs is a leading company in the premium segment of the market and provides services to global companies.
Our team
Cooperating with Norton Rose Fulbright we advised the client on all transaction-related matters. Our team consisted of partner Mantas Petkevičius and senior associate Matas Mačiulaitis.
