Mergermarket has once again named Sorainen “Baltic M&A Legal Adviser of the Year”. This is the seventh time already that Sorainen has received this prestigious award for creative advisory work on complex transactions.
Last year, in addition to winning the “Baltics M&A Legal Adviser of the Year” award, Sorainen also became the first Baltic law firm to win the title of “Central and Eastern Europe M&A Legal Adviser of the Year”.
Toomas Prangli, head of our regional Corporate and M&A team, comments: “The tech startup sector has dominated the Baltic M&A market in 2022. Even though activity in the sector slowed down significantly after the turbulent first quarter, eight out of the top ten deals by disclosed value still involved startups, and our team advised on five of them. Working in this sector always requires an innovative approach and cutting-edge solutions and we are truly happy that our clients keep trusting our team with such complex transactions.”
Among key mandates in 2022, we are proud to have advised:
- Bolt, the fastest growing mobility platform in the world (currently valued at over USD 8.4 billion), on raising USD 709 million in the biggest funding round in both Bolt’s and the Baltics’ history, as well as the largest startup funding round in the whole CEE region in 2022 to date.
- Veriff, a global identity verification service company founded and headquartered in Estonia, on raising USD 100 million in Series C, its biggest funding round yet.
- Oxylabs on acquiring Webshare Software Company for USD 50 million (the first case when a Lithuania-based business has acquired a Silicon Valley company)
- Invalda INVL, the leading investment management and life insurance group in the Baltic region, on signing an agreement with Šiaulių bankas, the largest bank with Lithuanian capital, to merge their retail businesses. The value of the deal is EUR 40.2 million.
About the Mergermarket awards
Each year Mergermarket, the leading provider of M&A data and intelligence, chooses the winners through a unique three-stage selection process that employs both empirical data and independent expert opinion. The judging panel, which includes senior representatives from Mergermarket, major private equity funds and international law firms, evaluates how the firm has added value to deal processes, supported clients and offered creative solutions to complex situations.
