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thedocyard completes merger
Herbert Smith Freehills has advised thedocyard Limited on its merger with Ansarada NewCo Pty Ltd and its associated $45 million capital raise.
Emma Musgrave
Firm: Herbert Smith Freehills (thedocyard).
Value: The deal was priced at $1.48 a share, raising $45 million for a $131.3 million market capitalisation.
Area: M&A, equity capital markets.
Key players: The deal team was led by Herbert Smith Freehills partners Clayton James and Philip Hart, together with solicitor Catie Moore, and supported by partner and head of venture capital (Australia) Peter Dunne, co-head of Venture Capital (Australia) Elizabeth Henderson, and solicitors Myra Beal and Emily Paterson.
Deal significance: In a statement, Herbert Smith Freehills described the Ansarada Group as “a global provider of cloud-based information governance solutions, providing end-to-end document and process management to support critical decisions and events for organisations throughout their lifecycle”.
“The Ansarada Group’s core products include market leading Virtual Data Rooms, a highly secure Board Portal, Ansarada’s compliance and governance Pathways product, and thedocyard’s legacy workflow software,” the statement said.
Commenting on the transaction, lead partner Clayton James said: “Given the fact that we use the Ansarada Group’s products on almost a daily basis, we were excited to be involved with this landmark transaction.
“This was a complex deal involving a merger, a backdoor listing and an associated capital raise. However, both thedocyard and Ansarada teams did a brilliant job. We look forward to the next stage of the Ansarada Group’s journey.”
Co-lead-partner Philip Hart added: “We are delighted to have assisted thedocyard on its successful merger with Ansarada and are very pleased that the Herbert Smith Freehills team was able to assist on this significant achievement. It was a pleasure working with thedocyard and Ansarada teams, and we wish them every success in the future.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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