Helikos in Acquisition of exceet Group

July 26, 2011

Cleary Gottlieb represented Helikos SE, a special purpose acquisition company (SPAC) based in Luxembourg, in the acquisition of Switzerland-based exceet Group, a leading European provider of embedded electronics and security solutions with production facilities in Switzerland, Austria, the Czech Republic, Germany and the Netherlands. The consideration consisted of €110.5 million in cash and newly issued stock. The acquisition was announced on June 7 and completed on July 26, following the approval of the transaction by the Helikos shareholders and warrantholders. The transaction marks the first successful business combination (de-SPACing) of a Frankfurt listed SPAC. Helikos was the first SPAC admitted to listing on the Frankfurt Stock Exchange. Cleary Gottlieb also advised Helikos in its IPO in 2010.