A Washington-based tech company snaps up all remaining shares of a listed tech firm, valuing it at nearly $122m
Three firms have been confirmed to be involved in the acquisition of a listed Australian technology company.
King & Wood Mallesons and Kirkland & Ellis acted for EagleView, which has entered into a scheme implementation agreement with Spookfish Limited, to acquire all of the latter’s remaining issued ordinary shares. The deal values Spookfish’s fully diluted equity at $121.6m.
Clayton Utz is the lead legal counsel of Spookfish. The firm’s team is led by corporate partner Mark Paganin and special counsel Stephen Neale. Lawyers Benjamin Depiazzi and Heather Costelloe are providing key support.
EagleView is already Spookfish’s largest single shareholder, with a stake of more than 10%, after its investment in and partnership with the company in 2016. The transaction is subject to approvals, including from Spookfish shareholders, the Federal Court of Australia, and the Foreign Investment Review Board.
EagleView, which is based in Bothell, Washington, is owned by Vista Equity Partners. Spookfish, based in Bentley, Western Australia, debuted on the ASX in 2015 via a back-door listing through the acquisition of White Star Resources.