Dye & Durham will acquire Link Group
The company also stated that Dye & Durham will acquire Link Group for cash consideration of approximately CDN$3.2 billion.
TORONTO — Dye & Durham Limited, a provider of cloud-based software and technology solutions, has entered into an agreement to acquire Link Administration Holdings Limited.
According to a company statement, Dye & Durham will also indirectly acquire Link Group’s approximate 43 per cent ownership stake in PEXA Group Limited, which operates Australia’s digital property exchange network and helps lawyers, conveyancers and financial institutions settle transactions and file documents electronically.
The company also stated that Dye & Durham will acquire Link Group for cash consideration of approximately CDN$3.2 billion, representing a 15 per cent premium to the closing price of Link Group’s shares on the ASX as at December 21, 2021.
“This is a transformational acquisition for Dye & Durham and represents a major step forward in our ‘Build to a Billion’ strategy to achieve CDN$1 billion of adjusted EBITDA,” said Matthew Proud, CEO of Dye & Durham in a company statement.
“This transaction will enable us to expand 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 clients and their customers and generate stable and sustainable cash flows. Link Group has achieved critical mass across multiple product categories in Australia and the United Kingdom – two of our key markets – and this acquisition both diversifies and strengthens our position in these geographies.”