Deloitte Legal advises group of sellers of Flightkeys on investment by Insight Partners
Vienna, September 27th 2024 – Flightkeys supports airlines in optimising flight schedules in real time in order to save costs and reduce emissions. Insight Partners’ investment will enable Flightkeys to further expand its market position in the USA, the world’s largest aviation market, and to further develop Flightkeys on a global level as a leading software provider for flight management software solutions. The agreement reached in September 2024 to acquire Insight Partners is still subject to regulatory approval and is expected to be finalised in the fourth quarter of 2024.
A group of sellers relied on the long-standing expertise of Deloitte Legal’s advisory team for their legal support on the transaction. The advisory team consisted of Alexander Operenyi and Johannes Lutterotti, both partners at Deloitte Legal.
‘We are delighted that we were able to support Flightkeys, an Austrian market and technology leader in a global market, in this important step towards strategic development,’ emphasises Alexander Operenyi.
Flightkeys and its subsidiaries Spacekeys and Skykeys develop and market software for optimising flight routes and flight plans in real time for the aviation industry, as well as systems for evaluating GPS satellite signals and a cockpit application for optimising flight trajectories by reducing costs and emissions. This makes the group a global leader in considering condensation trails in flight planning and execution. Founded in April 2015 and headquartered in Vienna, the company employs 110 experts. Flightkeys is already a market leader in the U.S. and has clients among well-known U.S. and European carriers.
Insight Partners is a global software investor partnering with high-growth technology, software and internet start-ups and scale-up companies that are driving transformative change in their industries. Insight Partners has invested in more than 800 companies worldwide and has seen more than 55 of its portfolio companies achieving an IPO. Insight is headquartered in New York City and has offices in London, Tel Aviv and the Bay Area.
The other sellers of Flightkeys were advised by Schönherr Rechtsanwälte and Grohs Hofer Rechtsanwälte. Drake Star acted as financial advisor to the Flightkeys group.
Insight Partners was advised by Willkie Farr & Gallagher and E+H Rechtsanwälte.