Crayon completes A$408M Rhipe acquisition

Crayon completes A$408M Rhipe acquisition

Rhipe likely to be privatised on 3 November.

Dominic O’Hanlon (CEO - Rhipe)

Dominic O’Hanlon (CEO - Rhipe)

Credit: Rhipe

Norwegian software asset management and cloud optimisation company Crayon has completed its A$408 million acquisition of Australia-founded distributor Rhipe following a positive shareholder vote. 

As a result, Rhipe is likely to delist from the Australian Securities Exchange (ASX) on 3 November with trading in the distributor's shares to end 14 October. 

The deal will see Rhipe's business across Asia Pacific, as well as its Azure services business Parallo, which it acquired in September 2020, and cyber security company Emt Distribution, its most recent addition, fall into the Crayon fold. 

According to Rhipe, this includes 600 employees based throughout Asia Pacific, who will join Crayon's 2000-strong workforce.  

“The shareholders of Rhipe and the Rhipe Board have both overwhelmingly concluded the scheme represents an attractive outcome for our shareholders, partners, customers and staff,” said Rhipe chairman Gary Cox.  

“Rhipe’s partners and customers will benefit from the broader global service capability from a combined Crayon and Rhipe. In addition, Crayon’s offer is positive news for Rhipe’s staff, as we believe there will be increased career opportunities in a larger and more diverse, combined company.” 

Melissa Mulholland, CEO of Crayon, added that the deal "will help more customers and partners solve their business needs with a greater portfolio of solutions"

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