We've advised the shareholders of Hofy, a global leader in IT lifecycle management for remote workers, on their sale to Deel Inc, a prominent international HR & payroll platform.
Since their inception in 2020, Hofy has been established as an innovator in facilitating the shift towards remote work environments. The company provides comprehensive solutions that enable over 700 IT & HR teams worldwide to efficiently manage nearly 30,000 individuals across 127 countries.
This acquisition by Deel Inc. will enhance a collective mission to deliver an all-encompassing HR, payroll and IT service globally. Hofy will be fully integrated into the Deel business to enable the launch of Deel IT, an end-to-end global IT services platform.
The deal exemplifies Taylor Wessing's strong track record as a market leader in advising on cross-border tech M&A transactions and illustrates our enduring commitment to advising clients from start-up phase right through to a successful exit.
The deal was led by corporate partner Alexandra Richardson supported by senior associate Deepti Patankar and a multidisciplinary international team.
Commenting on the transaction, Alexandra Richardson said: "It has been a privilege for Taylor Wessing to advise Hofy on its growth journey and it is wonderful to see what Sami, Michael and the team have achieved since the Company’s inception in 2020. I am proud to have led a multidisciplinary international team to deliver this transformational deal, and to have been able to bring our significant experience in advising fast growth venture backed tech companies to bear in advising on this exit. I look forward to seeing what Hofy and Deel will go on to achieve with the launch of Deel IT".
"Witnessing the growth journey of Hofy from its beginnings in 2020 to the commercial strength of their current market position has been exceptional. I'm delighted to have supported Hofy throughout its growth journey, culminating in this exciting transaction. This showcases Taylor Wessing's position as the leading provider of lifecycle advisory services to cutting-edge tech businesses.”
Sami Bouremoum, co-founder of Hofy said: “This transaction will enable Deel and Hofy to deliver one cutting-edge platform enabling companies to consolidate their HR, payroll and IT stacks. Alexandra and the wider Taylor Wessing team have skilfully guided Hofy through its growth journey over the past 4 years, and we are delighted to have worked with Alex and the broader team on our exit. They brought valuable technical and commercial advice and experience to this deal, performing to an exceptionally high standard to enable us to deliver a successful transaction to a challenging timeline.”
Further support on the transaction was provided by:
- Rachael Roberts (Corporate)
- Ellie Goonetillake (Corporate)
- Abi Easton (Corporate)
- Nell Cooper (Corporate)
- Rochelle Ampomah-Ababio (Corporate)
- Savannah Swale (Corporate)
- Claire Matthews (incentives)
- Katie Lewis (Incentives)
- Liz Wilson (Tax)
- Sally Robertson (Tax)
- Freddie Knottenbelt (Tax)
- Jordan Buckle (Employment)
- Mary Rendle (Data Protection)
- Sian Skelton (Commercial Technology and Data)
- Oliver Watson (Commercial Technology and Data)
- Georgina Wardrop (Pensions)
