Knowledge

TELLES has provided legal advice to Climber, a leading Portuguese company in Revenue Management System (RMS) solutions for the hospitality sector, as part of its acquisition by Revenue Analytics, a US group that is a leader in pricing and revenue optimisation solutions based on artificial intelligence.

The TELLES team provided legal support at all stages of the process, including structuring the operation, coordinating between shareholders to enable the exercise of drag-along rights, conducting legal due diligence and negotiating the terms and conditions of the sale.

In addition, TELLES provided specialised legal advice on the termination of financial commitments to employees - namely phantom stock option plans - the negotiation of rollover equity, as well as the definition and negotiation of post-closing mechanisms to ensure the continuity and strategic alignment of Climber's senior management team.

Guilherme Seabra Galante, Counsel in TELLES' Corporate, M&A and Private Equity practice area, led this highly complex legal and strategic operation, with the support of Delber Pinto Gomes, associate from the same practice area.

This transaction was particularly relevant in the context of technology applied to the hotel sector thanks to the combination of technological innovation, strategic vision and legal rigour, which reinforced Portugal's position as an innovation hub in the global digital economy.

Founded in Portugal, Climber develops software solutions that enable small and medium-sized hotel chains in Europe and Latin America to maximise revenue by automating pricing processes. In addition to its main RMS platform, the company offers Climber Market Strategy (CMS), a tool that provides aggregated market share data for more than 40 cities in Brazil and Portugal.

The acquisition will enable Revenue Analytics to consolidate its presence in Europe and Latin America, accelerate the development of solutions adapted to regional specificities and incorporate Climber's technological know-how.