Baker McKenzie advised Crayon Group Holding ASA, headquartered in Oslo, in connection with its entry into a Scheme Implementation Deed for the proposed acquisition of ASX-listed Rhipe Limited (ASX: RHP) for total consideration of approximately AUD 408 million. The acquisition will be implemented by way of a scheme of arrangement, pursuant to which all of the issued shares of Rhipe will be acquired for AUD 2.50 per share (less any special dividend declared by Rhipe prior to implementation).
The Baker McKenzie team was led by corporate partners Lance Sacks and Rick Troiano, senior associate Eric Li and associate Lewis Assness. Other members of the Baker McKenzie team included Rohit Duggal, David Wang, Kilian Elkinson, Caitlin Whale, Raghav Iyer, Victoria Bell, Michael Starkey, Gareth Austin and Lynsey Edgar.
Baker McKenzie's lead partner, Lance Sacks, stated: "We were delighted to act for our client, Crayon Group Holding ASA on this important transaction. The acquisition strategically aligns with our client's growth plans to becoming a leading regional player in the Asia Pacific region, and will enable Crayon to accelerate the strong market opportunity within the Asia Pacific."
Crayon is a global organisation headquartered in Oslo, Norway and listed on the Oslo Stock Exchange (OSE: CRAYN). The group operates a global, customer-first, and vendor-agnostic IT consultancy service, covering software asset management, cloud and volume licensing, training and associated consulting, with over 2,000 employees, across 50 offices in 35 countries.
Rhipe is an Australian cloud software licensing business, specialised in the licensing of software subscriptions and cloud-related services to IT service providers. The business was founded in 2003 and has been listed on the ASX since 2014. It currently has operations throughout various countries in the Asia-Pacific region, including Australia, New Zealand, Singapore, Thailand, Japan and the Philippines.
ABG Sundal Collier ASA is acting as exclusive financial advisor and AGP Advokater AS as Norwegian legal adviser to Crayon in connection with the transaction.