Dentons has advised Dye & Durham on its acquisition of SAI Global’s Property Division.
Firm: Dentons (Dye & Durham).
Deal: Dentons has advised Canada-headquartered Dye & Durham, a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, on its acquisition of SAI Global’s Property Division for $91 million, or approximately CA$87 million, in cash.
Value: $91 million.
Key players: The Dentons team was led by partner Ora Wexler and included partners Hamish Walton and John Mollard in Australia.
Deal significance: The acquisition creates a platform in Australia that is highly aligned with Dye & Durham’s existing product lines in Canada and the UK.
The Australia platform is expected to generate meaningful cash flow through its deeply embedded B2B cloud-based workflow software that connects users to more than 3,270 data sources including government registries on a national, state and local council level, to support their regulatory and business compliance processes.
“We are privileged to advise Dye & Durham on its expansion into the Australian market, utilizing our leading global platform and cross-border M&A expertise to enable the company to further its strategy of international growth,” Ms Wexler, partner and co-head of Dentons’ corporate team in Toronto who led the transaction, said.
SAI Global’s Property Division provides its broad B2B customer base, which includes conveyancers, solicitors and the financial services sector, with all the necessary workflow software, systems and information products to facilitate and complete the transfer of property. The business is also an approved ASIC, PPSR and AFSA information broker, providing its large customer base with the mission-critical workflow software and public records required to complete many business and commercial transactions.
“We believe that this acquisition creates a significant footprint into the Australian market for Dye & Durham and provides the Company with an opportunity to build a larger Australian business through future M&A that may unlock substantial synergy potential,” Matt Proud, chief executive of Dye & Durham said.