Dye & Durham acquires SAI Global Property Division
by CM Staff
The Australia platform is expected to generate cash flow through its embedded B2B cloud-based workflow software.
TORONTO — Dye & Durham Limited, a provider of cloud-based software and technology solutions servicing the manufacturing sector among others, announced on Jan. 8 that it closed its previously announced definitive agreement to acquire SAI Global’s Property Division for AUS$91 million, or approximately CDN$89 million, in cash.
The acquisition creates a platform in Australia that is aligned with Dye & Durham’s existing product lines in Canada and the United Kingdom. The Australia platform is expected to generate cash flow through its 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 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,” said Matt Proud, Chief Executive Officer of Dye & Durham.
SAI Global’s Property Division provides its B2B customer base, which includes conveyancers, solicitors and the financial services sector, with 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.
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