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Dye & Durham Up 7% as Agrees to Acquire GlobalX Information to Expand Australia Position

· 02/05/2021 05:45

10:29 AM EST, 02/05/2021 (MT Newswires) -- Dye & Durham Limited (DND.TO), a cloud-based software and technology solutions provider, at last look jumped 7.3% after saying Friday that it agreed to acquire GlobalX Information Pty Ltd for about $166 million, expanding its Australian footprint.

Similar to Dye & Durham's Australian business, GlobalX has a large B2B customer base that includes conveyancers, solicitors and the financial services sector professionals. The company provides workflow software, systems and information products for transfer of property and other commercial transactions.

The deal follows Dye & Durham's recent $87 million acquisition of SAI Global's property division, which also works toward building its Australian platform.

The deal is scheduled to close in the fourth quarter of the company's current fiscal year.

Price: 47.35, Change: +3.22, Percent Change: +7.30