Bristol-based Terrafirma IDC Limited (Terrafirma) has been acquired by Toronto Stock Exchange listed Dye & Durham Corporation for £12M.
Dye & Durham is a leading provider of cloud-based software and technology solutions for legal and business professionals. Terrafirma is a property tech business, focusing on location intelligence whose proprietary workflow technology software and data insight have been critical in transforming how decisions are made in UK property transactions.
The acquisition of Terrafirma will expand Dye & Durham’s capabilities in the UK real estate value chain, adding products which are already utilized by Dye & Durham’s customer base, whilst allowing Terrafirma to continue its impressive growth and secure a significant share of its market.
Purple Lime provided support to Terrafirma’s shareholders by negotiating price, deal structure and providing lead advisory services. Peter Doe, Client Director at Purple Lime, said: “In a relatively short space of time, Terrafirma has established itself as a leading organisation in its industry challenging the status quo of the market. The acquisition by Dye & Durham will not only provide an exciting platform from which the business can exert a global influence but will also provide Tom (Backhouse, CEO) and his exceptionally talented team with the opportunity to thrive within an ambitious and highly resourced organisation.”
Bruce Roxburgh and Laura Guest of Roxburgh Milkins provided legal advice to the shareholders. Find out more: https://bit.ly/3hHDBH4
“Every deal has its challenges, and, in this case, a highly acquisitive listed buyer combined with the requirement to work across time zones, created a unique set of challenges on this transaction. Fortunately, we were partnering with a highly experienced set of advisers in Roxburgh Milkins and our close working relationships ensured that we delivered a first-class result for our client.”
Oli Thomas, Partner at Purple Lime,
Accountancy advisors to Terrafirma