GREECE Trends and Developments Contributed by: Stathis Orfanoudakis, Theodore Konstantakopoulos and Yolanda Antoniou-Rapti, Zepos & Yannopoulos
AI as Next Focal Point for M&A The AI impact and repercussions on M&A work- streams cannot be underestimated. AI-based tools offer more efficient ways to analyse busi- ness operations, potentially leading to shorter deal completion timelines. However, there are still questions surrounding this latest trend, which will only be answered through trial and error. By way of example, will AI help cut down on deal costs through automation of processes, including by producing first drafts of transac- tion documents such as share purchase agree- ments or shareholders’ agreements? How will this unfold amid concerns regarding data secu- rity and privacy? At the same time, though, it could be argued that the very existence of new technologies such as AI and the associated risks will necessitate expanded due diligence and focus on aspects that were previously not on the radar of deal- makers. So, although due diligence could be accelerated, deal-makers may end up utilising the additional time to dive deeper into more refined aspects of the targets’ activities. The impact of AI on M&A will ultimately depend on how effectively deal-makers leverage these new tools and continue to shape the transactional landscape through judgement calls. Role of Cybersecurity in M&A Cybersecurity applications play their own essen- tial role in M&A in terms of protecting IP, ensur- ing compliance with regulations, safeguarding research and development, upholding customer trust and supporting uninterrupted operations. Detailed reviews of cybersecurity practices have become a vital part of technical due dili- gence processes. This entails assessing the tar- get company’s cybersecurity policies, incident report processes, and the overall security state of its IT systems. Being able to identify potential
vulnerabilities and risks early in the process has become key for buyers to make informed deci- sions and implement safeguards to protect their investments. Digital Infrastructures: High-Performance Computing (HPC) and Connectivity HPC and connectivity are catalysts for innova- tion, competitiveness, and economic growth. The European High-Performance Computing Joint Undertaking (“EuroHPC JU”) provides start-ups, SMEs, and the broader innovation community with access to AI-dedicated super- computers, enabling fast machine learning, training of large AI models, and the development of emerging AI applications. This initiative is part of a broader effort by the EU to enhance its digi- tal infrastructure and support the growth of the tech sector. By providing access to cutting-edge computing resources, EuroHPC JU helps start- ups and SMEs overcome the barriers to entry in the AI space, allowing them to innovate and compete on a global scale. Additionally, the ini- tiative fosters collaboration between research institutions, industry, and government, creating a vibrant ecosystem that drives technological advancements and economic growth. Greece is among the first countries to submit a proposal for AI factories to the EC – some- thing that will boost AI innovation in the EU. In fact, in December 2024, it was announced that the proposal submitted by Greece was selected as one of the seven proposals to establish and operate the AI factories across Europe. The pro- posal involves setting up a high-tech AI factory, which will utilise the “Daedalus” supercomput- er (a EuroHPC supercomputer currently under deployment in Greece), with an investment of EUR30 million. In Greece, the AI factory will be hosted at a leading research and technology hub, “Pharos” at GRNET (in Athens, Greece). Pharos
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