9 July 2021
K&L Gates has assisted GlobalX in securing merger clearance from the Australian Competition & Consumer Commission (ACCC) for GlobalX's proposed sale to Dye & Durham Corporation. Once finalised, GlobalX will be acquired by Dye & Durham for approximately AU$170 million.
GlobalX is one of Australia’s most successful technology companies with operations across Australia and the United Kingdom. GlobalX specialises in innovative tech solutions and support services for law firms, conveyancers, financial institutions, property planning professionals and government bodies.
Peter Maloney, GlobalX CEO, commented: "GlobalX is a successful Australian LegalTech story. We will continue to grow and invest in the Australian legal industry, to ensure that there is a strong, well supported competitive landscape. We are thrilled to be in a position to export our technology into new markets, attract global players and we are very much looking forward to joining Dye & Durham Australia, which recently acquired the SAI Global Property Division."
As a service provider to the legal industry, GlobalX and K&L Gates collaborated in 2019 on software innovation Matter Centre Projects, which assists law firms and property developers in efficiently managing the sale process of multi-lot developments and large scale infrastructure projects.
The K&L Gates team to secure ACCC clearance was led by Australian Competition and Consumer Law lead partner Ayman Guirguis and by lawyer Mei Gong.
Guirguis stated: "It has been a pleasure working with GlobalX to secure this outcome and to assist in achieving value for the owners of GlobalX."
You can read the ACCC statement on their website.
