Deal: Allens has advised rhipe Limited on its acquisition by Norway-based global IT service business Crayon by way of a scheme of arrangement.

Value: The scheme is valued at 100 per cent of rhipe’s share capital at $408 million.

Area: M&A.

Key players: the team was led by corporate partners Tom Story and Charles Ashton. Within the corporate team, they were assisted by associate Katherine Tsatsaklas and lawyers Adam Silver and Ben Fong.

The team was assisted by disputes and investigations partner Alexandra Mason, associate Ellen Trevanion and lawyer Kiara Di Carlo. Additionally, within the tax team was partner Joseph Power, managing associate Jay Prasad, associate Tamar Ruiz and lawyer Madeline Fisher.

Deal significance: rhipe shareholders approved the scheme in October, and the Supreme Court of NSW approved it a few days later.

Commenting on the deal, Mr Story said: “We have enjoyed working closely with rhipe’s board, senior management team and its financial adviser Jefferies Australia on this significant transaction and were delighted to help rhipe secure a positive result for its shareholders.”

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Mr Ashton added: “The public M&A market continues to thrive in Australia, with a wave of activity sweeping across the local technology sector.”