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TLT advises on strategic acquisition of HP service contract specialist

TLT has advised Swiss headquartered Annuity Management AG on its acquisition of contract rescue and renewal management specialist and HP Enterprise partner, Support Warehouse.

Together with Annuity Management's subsidiary Tesedi, the deal means that the Annuity Management Group can now offer its customers a fully-integrated, end-to-end service for the management, renewal and recovery of service and maintenance contracts. 

Together, the two companies serve around 10,000 customers in 15 countries with their renewal management services, including in the UK, US, France, Canada and Belgium. Over the last 17 years, Support Warehouse has worked in close co-operation with HP Enterprise to establish itself as a leading specialist for contract rescue management across the world.  

TLT advised Annuity Management AG on the full transaction, from due diligence through to share purchase agreement, negotiations and completion. The team was jointly led by corporate partner Alice Gardner and corporate associate Bryan Shaw. 

Matthias Knaur, CEO and founder of Annuity Management AG, says: "By combining the strengths, the expertise and the geographic reach of Tesedi and Support Warehouse, we are now able to offer HP Enterprise an end-to-end service across 15 countries. We are extremely grateful to TLT for their support in bringing these two well nurtured companies together with a well-managed process to timetable."

Gardner says: "The opportunity for technology companies to expand their customer base internationally is increasing all the time. This deal is a great example of two successful businesses located in different countries, but in complementary markets coming together to leverage their combined strengths and increase their market reach." 

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