Australia-based company to be part of global expansion strategy
Crayon, a leader in IT services and innovation, today announced a binding proposal for an acquisition of Rhipe Limited, a publicly traded, Australia-based cloud and licensing specialist.
The proposal is made through a Scheme of Arrangement and is subject to shareholder and regulatory approval. The proposed acquisition is valued at about NOK 2.6 billion, and the directors of Rhipe have unanimously recommended that Rhipe shareholders vote in favor of the proposal.
“This acquisition is part of our global expansion strategy as it helps to accelerate our business, especially in the Asia Pacific region,” said Crayon CEO Melissa Mulholland. “Crayon and Rhipe’s go-to-market models are completely aligned, particularly when it comes to the channel business. Through our synergies, we will be able to drive business value from Day 1 of this acquisition.”
Rhipe is a leading wholesale provider of subscription-based cloud licenses, infrastructure, and services in the APAC region. It was established in 2003, has about 500 employees and serves more than 3,000 IT resellers.
“Rhipe’s partners and customers will benefit from the broader global service capability from a combined Crayon and Rhipe,” Rhipe chairman Gary Cox said in a statement. “In addition, Crayon’s offer is positive news for Rhipe’s staff, as we believe there will be increased opportunities to develop new technologies and products and grow their careers.”
Crayon has been steadily growing in Australia. It opened its first offices in August 2019, and last year purchased Oracle specialist Navicle and Winc’s software licensing operations.
“We are excited about the possibility of bringing Rhipe to the Crayon family as it offers us the opportunity to continue to help our customers and partners optimize and innovate across APAC,” said Crayon Senior Vice President in APAC Rhonda Robati. “This opportunity will bolster our core offering and strengthen our ability to help businesses with their digital transformation.”
There will be a Crayon Group Holding ASA presentation about this announcement on Tuesday, 6 July 2021 at 11 a.m. CEST.
