Congratulations to the IXUP team who completed on the acquisition of the technology assets of Data Republic (Administrators Appointed) on 7 June 2021.
IXUP Limited (ASX:IXU) (pronounced ‘eyes up’) is a pioneering technology company that has developed world class software facilitating the secure sharing and analysis of sensitive information using advanced encryption technology.
Founded in 2014, Sydney-based Data Republic specialised in allowing organisations to share and license data, without risking consumer privacy or data security. Data Republic went into administration in May 2021.
“It has been a real pleasure working with the whole IXUP team and JWS providing legal counsel on this transaction. This acquisition combines the complementary technology stacks of IXUP and Data Republic providing clients with all their corporate data collaboration needs. We went from indicative offer to completion in the space of 14 days and helped IXUP fend off competition from over 80 interested parties to become the successful purchaser,” said Said Jahani, National Managing Partner – Financial Advisory.
In a media statement regarding the acquisition, Marcus Gracey, CEO of IXUP said: “Our acquisition of the Data Republic Technology Assets adds a well-developed, valuable and complementary product set to IXUP’s fast growing technology stack which we believe will deliver significant commercial benefits to IXUP shareholders. IXUP intends to continue to service to all of Data Republic’s previous and affected customers, where possible, and we are also in dialogue with the previous Data Republic employee base to explore how we might provide future employment opportunities”.
We know from our Dealtracker reports that technology continues to be a highly sought after target in the M&A space, propelled along by COVID-19 and the push online for workplaces, retailers and services.
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