The transaction is expected to be completed by the end of April
DLA Piper has advised Sydney-based real estate campaign management technology platform Realbase Pty Ltd on its $230m sale to ASX-listed real estate business Domain Group.
As part of the transaction, Domain Group will pay an upfront cash consideration of $180m, plus an earn out component of up to $50m which may be payable upon achievement of stretch financial performance targets, or a mix of revenue and earnings before interest, taxes, debt and amortisation (EBITDA) metrics over a three-year period from FY24 to FY26.
The sale is expected to be completed by the end of April.
“We are incredibly excited by the opportunity to partner with the Domain Group and to continue to scale and grow alongside a market leader in the real estate industry,” Realbase CEO Frank Greeff said.
Corporate partner Adrian Tan led the DLA Piper team on the transaction. He was assisted by senior associate Michael Orban and solicitors Jake Thornton, Mariam Jaber and Kayla Stathis.
Also in the team were partner Nicholas Turner, senior associate Clancy King and solicitor Stephanie Lambros (employment), as well as partner Nicholas Boyle and senior associates Alex Horder and Kit Lloyd (IP and technology).
“It has been an absolute pleasure to advise Realbase on this transformative transaction, which is a clear demonstration of their unique offering to the real estate sector and market leading position in the provision of integrated campaign management solutions,” Tan said.
