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IT consultancy to acquire rhipe Limited
Multinational law firm Baker McKenzie has advised Crayon Group on its acquisition of an Australian cloud software licensing business, in a deal worth $408 million.
Lauren Croft
Firm: Baker McKenzie (Crayon Group Holdings).
Value: $408 million.
Area: M&A, corporate.
Key players: The Baker McKenzie team was led by corporate partners Lance Sacks and Rick Troiano, senior associate Eric Li and associate Lewis Assness. Other members of the Baker McKenzie team included Rohit Duggal, David Wang, Kilian Elkinson, Caitlin Whale, Raghav Iyer, Victoria Bell, Michael Starkey, Gareth Austin and Lynsey Edgar.
Deal significance: The acquisition will be implemented by way of a scheme of arrangement, pursuant to which all of the issued shares of thipe will be acquired, minus any special dividends declared prior to implementation.
Mr Sacks stated: “We were delighted to act for our client, Crayon Group Holding ASA on this important transaction. The acquisition strategically aligns with our client’s growth plans to become a leading regional player in the Asia Pacific region, and will enable Crayon to accelerate the strong market opportunity within the Asia Pacific.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
