References/18 Jan 2021
Borenius advised the sellers on the sale of DIAS Oy
We advised Tomorrow Tech, the OP Financial Group, Danske Bank, Aktia Bank and S-Bank on the sale of the majority stake in Digitaalinen Asuntokauppa DIAS Oy to Alma Media Oyj. We also assisted the sellers on other related contractual arrangements.
DIAS has developed a digital housing platform that connects buyers, sellers, real estate agents and banks. The platform is one of the first domestic distributed ledger technology (DLT) services to debut in Finland. DIAS began as a joint venture between technology company Tomorrow Tech and the banks mentioned above.
DIAS is an excellent example of a successful corporate venturing project between a technology company and large corporations. It is also an excellent example of the new opportunities created by the data economy. From the perspective of the legal advisor involved in the process, DIAS’ complex ownership and business structure rendered the transaction both challenging and rewarding.