Dye & Durham to buy PE-owned SAI Global’s property division

Toronto-based Dye & Durham has agreed to acquire the property division of SAI Global, a portfolio company of Baring Private Equity Asia.

Toronto-based Dye & Durham has agreed to acquire SAI Global’s property division, which provides workflow software, systems and information products to facilitate and complete the transfer of property. The purchase price is about C$87 million. Australia’s SAI Global is owned by Baring Private Equity Asia. Dye & Durham is a provider of of cloud-based software and technology solutions.

PRESS RELEASE

Dye & Durham to Enter Australian Market with $87 Million Acquisition of SAI Global Property Division

TORONTO, Dec. 4, 2020 /CNW/ – Dye & Durham Limited (“Dye & Durham” or the “Company”) (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announced that it has entered into a definitive agreement to acquire SAI Global’s Property Division for Aus$91 million, or approximately Cnd$87 million1, in cash. The transaction is expected to close in early 2021, subject to required regulatory approvals.

SAI Global’s Property Division provides its large B2B customer base, which includes conveyancers, solicitors and the financial services sector, with all the necessary workflow software, systems and information products to facilitate and complete the transfer of property.

The business is also an approved ASIC, PPSR and AFSA information broker, providing its large customer base with the mission critical workflow software and public records required to complete many business and commercial transactions. SAI Global is owned by Baring Private Equity Asia.

The acquisition creates a platform in Australia that is highly aligned with Dye & Durham’s existing product lines in Canada and the United Kingdom. The Australia platform is expected to generate meaningful cash flow through its deeply embedded B2B cloud-based workflow software that connects users to more than 3,270 data sources including government registries on a national, state and local council level, to support their regulatory and business compliance processes.

“The acquisition of the SAI Global Property Division opens up a natural geography for Dye & Durham to keep building on its strategy of acquiring, integrating and operating technology businesses in its sector to drive EBITDA growth,” said Matt Proud, Chief Executive Officer of Dye & Durham. “It also provides a clear path to build a larger Australian platform in the near term.”

The acquisition price is consistent with valuation multiples paid for other recent transactions completed by Dye & Durham.

Dye & Durham’s advisors for this transaction were Canaccord Genuity and Dentons.

1 Based on an Australian Dollars to Canadian Dollars exchange rate for December 4, 2020 of Cnd$0.95

About Dye & Durham

Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada and the United Kingdom, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations

Additional information can be found at www.dyedurham.com.

For further information: Adam Peeler, LodeRock Advisors Inc., Adam.peeler@loderockadvisors.com, 416.427.1235
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