Brown Rudnick represented Orbiit, an AI-powered B2B networking platform, in its sale to Hivebrite, a community management and engagement platform based in Paris, France.

The acquisition agreement was announced on July 9, 2024. Terms of the deal were not disclosed.

The deal enables Hivebrite to integrate Orbiit's AI-powered technology into its platform, offering its members more precise connections based on customizable criteria such as industry, experience and interests.

Users of Hivebrite's platform include Santander, Euronext, the Obama Foundation, the U.S. Naval Academy, CERN, Roche, the University of Notre Dame, and the American Psychological Association.

Orbiit is a portfolio company of LAUNCHub Ventures, a venture capital firm based in Sofia, Bulgaria.

The Brown Rudnick team representing Orbiit was led by partner David Haber and included partner Jonathan Fitzsimons and associate Sharix Alicea. Partner Peter Farrell provided tax advice.

More details on the transaction can be found here.