Thomson Geer assists Ideagen with Lucidity acquisition

The deal enhances the support Ideagen can provide to regulated industries in Australia

Thomson Geer assists Ideagen with Lucidity acquisition

Thomson Geer has advised global regulatory and compliance software firm Ideagen Ltd on its acquisition of Lucidity Software Pty Ltd.

According to the firm, the deal “builds on UK-based Ideagen's geographic footprint and increases the support it can offer to regulated industries in the Australian region.”

“The addition of Lucidity builds our footprint and increases the support we can offer to regulated industries in that region, and we are looking forward to amplifying that great tech globally,” Ideagen CEO Ben Dorks said.

Lucidity CEO James Graham said in an Ideagen press release that joining Ideagen “means we can realise our growth ambitions faster by leveraging Ideagen’s global reach, which opens up additional business possibilities.”

Thomson Geer partner Eugene Fung highlighted the complex cross-border aspects of the deal.

“Software companies operate in a global environment and foreign investment rules can be a key factor in M&A activity between them,” he explained.

Fung led the Thomson Geer team, receiving support from partner Mark Branagan, special counsel Melanie Mitchell and lawyers Lachlan Peat and Alexandra Smith. The team advised Ideagen on due diligence and Foreign Investment Review Board matters.

The team also tackled cross-border elements of the transaction like the New Zealand vendor’s requisite shareholder approvals, drafting and negotiating transaction documents to final form, negotiating warranty and indemnity insurance terms, and guiding the deal to completion.

Thomson Geer had previously advised Ideagen on its acquisition of OnePlace Solutions in May. At present, Ideagen’s investment in Australia-based software businesses totals around $150m.

Lucidity is a cloud-based solution facilitating environmental health, safety, and quality management connecting on-the-ground workers with management teams.

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