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Penten receives $50m investment from Five V Capital
Australian cyber-technology business Penten has been advised on an investment of $50 million by Australian private equity firm Five V Capital, which will see that firm take a significant minority interest.
Jerome Doraisamy
Firm: Allens (Penten).
The firms advised Penten on all aspects of the selection process and subsequent investment by Five V Capital.
Value: $50 million.
Area: Corporate/M&A.
Key players: The Allens team was led by partner Emin Altiparmak, who was supported by managing associate Elyse Adams, associate Andrew Lee and lawyer Erica Tan.
Deal significance: Mr Altiparmak said that the firm is pleased to have supported Penten throughout this transaction.
“The deal reaffirms the continued interest of private equity sponsors in the tech sector, and their versatility to get the deal done as demonstrated by the minority interest acquired here,” he said.
Ms Adams added: “This is a great example of the growing focus – from both here and offshore – on Australian tech, which is a tribute to the sophistication and maturity the market has gained in recent years. Penten is a true homegrown success story, and it’s really exciting that the next phase of Penten’s growth will be achieved through Australian capital.”
Jerome Doraisamy
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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