The commercial law firm RITTERSHAUS advised the Italian based UNGUESS S.r.l., (“UNGUESS“) on the acquisition of Testbirds GmbH (“Testbirds“) and its European subsidiaries.
Unguess is a European platform combining crowdtesting, AI and human insights to ensure the reliability, quality and security of digital products and experience. Testbirds is the leading Crowdtesting provider in DACH and Benelux. With its offices in Germany, the Netherlands and UK, Testbirds has developed a scalable model for digital product quality under the motto “Testing Reality“.
By virtue of the transaction, the combination of the two leading companies creates an international group with direct presence in Italy, France, Germany, the Netherlands and the UK, bringing the aggregate turnover to approximately EUR 20 million.
The transaction marks a key milestone in UNGUESS’s international expansion; following its entry into the French market in Ferpection in 2024 and 30% revenue growth in 2025, UNGUESS now strengthens its footprint in the DACH and Benelux regions. The new group brings together a team of around 100 professionals and a portfolio of over 500 enterprise clients, including global partners such as BMW, Generali, Allianz, LVMH, Pirelli, Sky and Intesa Sanpaolo.
The transaction was supported by Fondo Italiano d’Investimento SGR, through the Fondo Italiano Tecnologia e Crescita (FITEC), the leading capital provider for the growth of tech companies in Italy and lead investor in the funding round of over EUR 10 million completed by UNGUESS in 2022. UNGUESS’s investors also include P101, one of Italy’s leading venture capital firms, whilst Round2, Europe’s leading revenue-based financing provider for B2B software companies, continues its backing of Testbirds since its first investment in 2023.
The acquisition aims to unify the technology platforms and tester communities of TRYBER and the Nest, giving the Group’s customers access to over one million active users across more than 100 countries. At the same time, the commercial offering is enhanced by integrating Testbirds‘ IoT and connected-device testing services with UNGUESS’s AI Training and Cybersecurity solutions.
With the new infrastructure, the group is able to stress-test AI models across a vast array of devices and geographical areas, whilst maintaining human intelligence as the ultimate benchmark for the security of next-generation digital products.
While the Testbirds brand will be retained in the DACH region (Germany, Austria and Switzerland) during the transition phase, the group will operate globally under the UNGUESS brand. The company plans to pursue further mergers and acquisitions in the coming years to expand its presence in other strategic European markets.
Comprehensive legal advice on the takeover was provided by an international M&A transaction team from the commercial law firm RITTERSHAUS, led by Munich partner Dr Milena Charnitzky. RITTERSHAUS regularly advises companies, in particular from the USA, the European Union, China, Singapore, Hong Kong and India, on investments in Germany. Further legal and tax support of the purchaser was provided by the Italian team from Russo de Rosa Associati, Milan, Italy (Andrea De Panfilis, Fabrizio Cavallaro, Antonio Lopetuso, Alessio Borghini).
German Advisors UNGUESS S.r.l.
Rittershaus Rechtsanwälte, Munich/Mannheim
Dr Milena Charnitzky, Partner (Lead, Corporate/M&A, Munich)
Kristina R. Lindenfeld, Counsel (Co-Lead, Corporate/M&A, Mannheim)
Eler von Bockelmann, Counsel (Employment Law, Munich)
Dr Anno Haberer, Partner (IP/Commercial, Mannheim)
Vanessa Wüllner, Associate (Corporate/Commercial, Munich)
German Advisors Round 2 Capital Partners (Seller Testbirds GmbH)
LUTZ ABEL Rechtsanwalts PartG mbB
Jan-Phillip Kunz, LL.M., Partner (Lead, Corporate/M&A, Munich)
Constanze Hachmann, Associate (Corporate/M&A, Hamburg)
Lars Henrik Dieball, Associate (Corporate/M&A, Munich)
Contact person
Rittershaus Rechtsanwälte PartmbB
Dr Milena Charnitzky, Rechtsanwältin (German Attorney), Partner
Tel.: +49 (089) 121 405-278
E-Mail: milena.charnitzky@rittershaus.net
About RITTERSHAUS Rechtsanwälte PartmbB
With over 80 lawyers at its offices in Frankfurt/Main, Mannheim and Munich, Rittershaus specializes in advising internationally active companies. Founded in 1969, the commercial law firm focuses on restructurings, M&A, private equity and venture capital transactions, as well as corporate financing and corporate and private succession. Other key practice areas include banking and capital markets law, employment law, intellectual property, public law andIT law, as well as real estate law. Rittershaus is connected to two global networks of law firms across five continents through AIJA (Association Internationale des Jeunes Avocats) and Legalink, and handles mandates worldwide on a cross-border basis.
The editors of the JUVE Handbook, the leading publication on commercial law firms in Germany, named RITTERSHAUS “Law Firm of the Year 2020” for succession, wealth, and foundations, and also nominated the firm for the “Law Firm of the Year for M&A” award. In 2024, FOCUS recommended RITTERSHAUS as a top law firm for employment law, construction law, inheritance law, corporate law, and environmental law. WirtschaftsWoche has already recognized RITTERSHAUS as a top law firm for corporate law and patent law in 2019, has ranked it annually as a top law firm for data protection law since 2020, as a top law firm for construction law since 2022, and, for the first time in 2025, as a top law firm for real estate law.
More information on the Internet at www.rittershaus.net.