Esin Attorney Partnership and Baker McKenzie have advised the board, principal shareholders, and equity investor Invus on the sale of Airties to Providence Equity Partners. Gedik & Eraksoy and Allen & Overy advised the buyer. YC Law and DLA Piper reportedly also advised the seller.
Airties is a managed Wi-Fi solutions provider. Airties’ customers include AT&T, Deutsche Telekom, Singtel, Sky, Telia, Telstra, and Vodafone.
Founded in 1985, Invus specializes in equity investments and is active in various industries including consumer and retail, technology, and healthcare. The company has offices in New York, Paris, and Hong Kong.
Providence is a private equity firm primarily focusing on the media, communications, education, and technology industries. Providence has offices in Providence, New York, and London.
“We have been impressed by the strength and quality of Airties’ cloud-based managed Wi-Fi solutions and strongly believe its leading software offering, together with its deep expertise in integrating across hardware technologies and operator platforms, positions Airties as a preferred partner for broadband service providers,” Providence Managing Director Michael Vervisch commented. “We see tremendous potential to continue Airties’ growth trajectory by extending its global reach and expanding its offering. Additionally, we believe its culture of innovation and success make it a perfect fit for us.”
The Esin Attorney Partnership team was led by Partner Duygu Turgut and included Partner Orcun Solak and Associates Erman Ertan and Ulku Sarikaya.
The Gedik & Eraksoy team was led by Partner Hakki Gedik and Senior Associate Cinar Sipahioglu and included Associates Ipek Ince and Gulbabil Kokver.