BDO PRIVATE EQUITY
05
AUSTRALIA
TheVortiv Board engaged BDO to advise on strategic options relating to an unsolicited approach we received for our Cyber Security businesses. BDO demonstrated a strong understanding of the regulatory framework whilst maximising the value achieved for the Cyber Security business. We appreciated BDO bringing sector experts across multiple offices which was critical to the success of the deal conducted through the COVID-19 lockdown. BDO brought together a range of M&A specialists from across the nation (Melbourne and Perth) to manage the complex issues and regulatory requirements, including navigating ASX Listing Rules, Corporations Law, ATO tax rulings, Independent Expert determination and FIRB approval process. BDO managed the AUD25 million transaction to a successful completion with BGH Capital backed CyberCX, delivering a circa 20% price increase on the original approach. Vortiv Ltd is an ASX listed company which operated cyber security businesses Cloudten and Decipher Works (Cyber Business) and holds a minor investment in payment solutions business TSI India. Following an unsolicited approach for its Cyber Business in June 2020, BDO was appointed to advise the board on how it should manage the offer and ensure directors’ duties would be discharged whilst maintaining competitive tension through a confidentially-managed process.
Sale of Vortiv Limited’s cloud and cyber-security business to CyberCX
BDO contact for this transaction
TONY SCHIAVELLO Partner
Corporate Finance, Melbourne tony.schiavello@bdo.com.au TODD GROVER Partner Corporate Finance, Perth todd.grover@bdo.com.au SILVIO COLALUCA Associate Director Corporate Finance, Melbourne silvio.colaluca@bdo.com.au
Jeffrey Lai | Managing Director, Vortiv Limited
INTERNATIONAL SNAPSHOTS 2022
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