McDermott Advises Atruvia AG on the Acquisition of ECON Application GmbH
Frankfurt, July 3, 2023 – McDermott Will & Emery advised Atruvia AG on the acquisition of the fintech company ECON Application GmbH.
The ECON Application Suite, the first no-code software for financial institutions, is to be integrated into Volksbanken und Raiffeisenbanken’s financial platform by 2024.
ECON Application GmbH, based in Frechen near Cologne, was founded in 2016 and develops and sells no-code software for easy creation and configuration of digital sales processes in the financial industry.
Atruvia AG is the digitization partner in the cooperative FinanzGruppe. With more than 9,000 employees, the company generates annual consolidated revenue of around EUR 1.82 billion.
The McDermott team led by partner Dr Michael Cziesla regularly advises Atruvia AG on corporate transactions in the technology sector.