Dye & Durham acquires GlobalX
Today GlobalX has confirmed it has merged with global legal technology Dye & Durham. The acquisition of GlobalX by Dye & Durham comes on the back of the Australian Competition and Consumer Commission’s (ACCC) decision not to oppose the merger with Dye & Durham (TSX: DND), a global leader in legal technology and regulatory information.
Dye & Durham specialises in cloud-based software and technology solutions designed to improve efficiency and increase the productivity of legal, property and business professionals.
Dye & Durham acquired GlobalX for $170 million, which continues the run on highly successful Australian technology companies being acquired by global firms. GlobalX CEO Peter Maloney welcomed the announcement stating the merged entity would offer significant value to Australian legal, property and business professionals.
Mr Maloney said: “Dye & Durham acquired SAI Global in January 2021, and both local companies will now merge. The companies come together as a natural fit; with strengths in different product categories to now be shared across the total customer pool. We benefit from a shared mindset of delivering our customers the latest technology, backed by a unique customer-centric product and service experience.”
“Over the past 27 years GlobalX has grown to become one of Australia’s most successful legaltech stories, providing trusted data and information services alongside innovative workflow to Australian law firms, conveyancing organisations, government bodies and allied businesses.”
“We’re proud of our local knowledge and market leading solutions and we’ll continue to drive this with the added firepower of a global leader.”
“There will be no change to the service and solutions our clients have come to trust, and we will continue to invest in our customers and technology, supported by local expertise,” Mr Maloney said.
“While there will be a name change in due course, there will be no disruption to our market leading solutions or customer service. GlobalX entered into this merger because the two companies are entirely aligned and this milestone will deliver our clients an even better experience into the future,” Mr Maloney said.
Dye & Durham entered the Australian market in January 2021 with its acquisition of SAI Global’s Property Division.
Mr Maloney confirmed that the merged entity would operate under the Dye & Durham brand with Maloney heading the Dye & Durham Australian operations as of 1 June, when the transaction is expected to close.
Dye & Durham were represented by Dentons, Henderson Webb & EY whilst GlobalX was advised by Maddocks, K&L Gates and KPMG.