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Crayon Group Holding — M&A Activity 2021
Sep 30, 2021
3573_rns_2021-09-30_6fb225c8-df11-4de9-91b1-8cb5ea59e344.html
M&A Activity
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Crayon Group Holding ASA: Update on M&A process
Crayon Group Holding ASA: Update on M&A process
Oslo, 30 September 2021 at 11:15 CEST: Reference is made to the announcement by Crayon Group Holding ASA ("Crayon") on 6 July 2021 regarding Crayon having signed a binding agreement with Rhipe Limited ("Rhipe") for an offer to be made to acquire all shares in Rhipe by way of a Scheme of Arrangement ("Scheme").
Crayon is pleased to provide the following update in relation to the Scheme:
- The Australian Foreign Investment Review Board (FIRB) has today provided written notice to Crayon that the Commonwealth has no objection to the proposed acquisition of rhipe by Crayon Software Experts Australia Pty Ltd, and indirect wholly-owned subsidiary of Crayon, by way of scheme of arrangement (Scheme).
- The receipt of FIRB approval satisfies a condition precedent to the implementation of Scheme.
The implementation of the Scheme remains subject to a number of other conditions, including approval of rhipe shareholders at the Scheme Meeting to be held on Monday 11 October 2021, Court approval and the satisfaction or waiver (where capable of waiver) of certain other customary conditions as outlined in the Scheme Implementation Deed released to the ASX on 6 July 2021.
For further information, please contact:
Jon Birger Syvertsen
Chief Financial Officer, Crayon Group Holding ASA
Tel.: +47 97 19 92 51
Email: [email protected]
About Crayon
Crayon Group Holding ASA is a leading IT advisory firm in software and digital transformation services. With unique IP tools and skilled employees, Crayon help optimize its clients' ROI from complex software technology investments. Crayon have long experience within volume software licensing optimization, digital engineering, predictive analytics and assists the clients through all phases of the process of a digital transformation. Headquartered in Oslo, Norway, the company has approximately 2,500 employees in 50 offices worldwide.