Allens has advised rhipe Limited (rhipe) on its acquisition by Norwegian based global IT services business Crayon by way of a scheme of arrangement (Scheme). The Scheme valued 100 per cent of rhipe’s share capital at A$408 million.
Corporate Partners Tom Story and Charles Ashton led the Allens team on the acquisition.
‘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,’ said Tom Story, Partner and Head of Corporate.
M&A Partner Charles Ashton said ‘The public M&A market continues to thrive in Australia, with a wave of activity sweeping across the local technology sector. We expect to see further deals in the coming months.’
rhipe shareholders approved the Scheme on 11 October 2021 and the Supreme Court of New South Wales approved it on 13 October 2021.
