Vancouver-based software company to acquire Australia-based Link Group for C $ 3.2 billion
Vancouver-based cloud technology and software solutions company Dye & Durham announced yesterday that it has entered into an agreement to acquire Link Administration Holdings, an Australian provider of recordkeeping technology and information solutions, for a cash consideration of approximately C $ 3.2 billion, or A $ 5.50 per common share. to share.
Dye & Durham says that, as part of the transaction, it will also indirectly acquire Link Group’s approximately 43% stake in PEXA Group, which operates Australia’s digital property exchange network and assists attorneys, agents of transportation and financial institutions to settle transactions and file documents electronically. .
“This is a transformational acquisition for Dye & Durham and represents a major step forward in our ‘Build to a Billion’ strategy to achieve C $ 1 billion in Adjusted EBITDA,” said Matthew Proud, CEO of Dye & Durham. “This transaction will allow us to extend our proven model into adjacent markets, where Link Group’s products share the same attributes of our existing offering: digital infrastructure-like assets that provide essential services to customers and their customers and generate stable and sustainable cash flow. Link Group has achieved critical mass in several product categories in Australia and the UK – two of our key markets – and this acquisition both diversifies and strengthens our position in these geographies.
This acquisition further expands Dye & Durham’s global footprint and, he says, positions the company as a clear leader in business-to-business (B2B) software and information services solutions. It will also expand the product line for existing customers and expand the customer base in key strategic markets of the UK and Australia, the company noted.