Crayon acquisition of rhipe now complete

The acquisition of the Australia-based company is part of Crayon’s global expansion strategy and happened via a Scheme of Arrangement. The Supreme Court of New South Wales approved the acquisition and trading of rhipe shares have been suspended.

“I am thrilled to welcome rhipe to the Crayon family,” Mulholland said.

Crayon provided the following update in relation to the Scheme:

• The Scheme Consideration of AUD 2.37 (after deduction from the offered AUD 2.50 of agreed AUD 0.13 per share Special Dividend, as agreed with Rhipe) in cash for each Rhipe share has today been paid out to each Rhipe shareholder who held shares at 7:00pm (Sydney time) on Wednesday, 27 October 2021, representing a total consideration paid by Crayon for Rhipe of AUD 386,988,068.85.
• Crayon's indirect wholly-owned subsidiary Crayon Software Experts Australia Pty Limited now owns all of the shares on issue in Rhipe.
• As of today, Melissa Mulholland, Jon Birger Syvertsen and Mark McLellan have been appointed as the new board of directors of Rhipe.
• Rhipe has applied to the ASX to have quotation of its shares terminated and for Rhipe to be removed from the official list of the ASX with effect from close of trading on Thursday 4 November 2021.

rhipe is a channel-focused, leading wholesale provider of subscription-based cloud licenses, infrastructure, and services. It was established in 2003 and serves more than 3,000 IT resellers.

The purchase includes all of rhipe’s 600 employees and its activities across Asia Pacific, as well as the recently acquired Azure services business Parallo, which joined rhipe in September 2020 and emt Distribution, the cyber security software company acquired in April 2021. 

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.