AKD has acted as Dutch counsel to TDR Capital LLP on its carve-out acquisition of Escode, a leading UK‑based software escrow and verification business from NCC Group plc, listed on the London Stock Exchange.

Escode, currently part of global cybersecurity company NCC Group, provides software escrow and verification services. These services play a vital role in technology resilience: a software supplier deposits its source code and related materials in secure escrow with a neutral third party, ensuring business‑critical users can access the software should the supplier be unable or unwilling to continue delivery.

Funds managed by TDR Capital will acquire Escode from NCC for GBP 275 million. The transaction is subject to customary regulatory and closing conditions.

For NCC Group, the sale marks the final step in its strategic decision to divest non‑core operations.

The AKD core team consisted of Lennart Crain, Ralph Ledeboer and Florine Goemans (Corporate M&A).

For more information on this transaction, please see the press coverage here.