Barclay Pearce Capital has worked alongside thedocyard (ASX: TDY) since May of 2019. Prior to their IPO, we raised A$1.45 million in capital to support development and operations.

On the 14th of February 2020, A$4.1 million was raised at the IPO, this was followed by the acquisition of LockBox Technologies in July.

TDY's continued growth has led to their latest ASX announcement: the Proposed acquisition of Ansarada. This transaction will establish the company as a global leader in information management and governance.

Within 14 months, we have worked with TDY to develop and build their story into an ASX listed multinational corporation. After two key M&A transactions, TDY will be a robust, capitalised, and diversified company who will reach a market capitalisation of over A$125 million. Existing shareholders of TDY will own approximately 18% of this new entity which is positioned for accelerated growth both domestically and internationally.

18th August 2020: thedocyard Limited (ASX: TDY) and Ansarada NewCo Pty Ltd (Ansarada) are pleased to announce they have entered into a Heads of Agreement which TDY will acquire 100% of Ansarada (the Proposed Transaction).

TDY and Ansarada believe that their business models are highly complementary, synergistic and strategic. The Proposed Transaction will (if consummated) create an industry leading global SaaS business. 

Announcement highlights:

"On completion of the transaction and a proposed capital raising, and based on financial information provided by Ansarada, the merged entity is expected to have a market capitalisation of approximately A$125 million"

• thedocyard and Ansarada are proposing a merger to form a leading global SaaS company in deal technology and information governance technology
• Ansarada is a leading global provider of a cloud-based SaaS platform for secure end-to-end document and process management, supporting transaction and other critical business and governance outcomes
• The proposed merger will, if consummated, combine TDY's differentiated transaction workflow management platform and the Athena board management portal with Ansarada market leading and trusted Virtual Data Room and Pathways platforms
• thedocyard and Ansarada are expected to generate increased revenues through the expected opportunities to cross-sell of thedocyard products, such as Athena Board portal, to Ansarada's base of over 2,600 active corporate and advisor customers globally
• The proposed merger is expected to create a clear pathway towards substantial recurring and enterprise SaaS revenue across a global customer base

Strategic Rationale

The Proposed Transaction would result in the combination of TDY's differentiated transaction workflow management platform with the Athena board management portal and Ansarada's market leading and trusted Virtual Data Room and Pathways platforms. The combined entity will:

• have access to an expanded and active customer base of over 2,600 of customers and over 400,00 active users comprising the world's leading companies, investment banks and advisory firms;
• open opportunities to leverage this customer base into TDY’s enterprise SaaS products be in a position to leverage Ansarada’s significant brand value, established trust, relationships and intellectual property from 15 years of development, and data across over 22,000 critical business events in more than 100 countries;
• operate a robust scalable platform, and be positioned for future growth both domestically and internationally, with close to 50% of Ansarada’s revenues already generated offshore.

Comments from thedocyard leadership:

“The combination of our workflow, deal and board management solutions, with Ansarada’s trusted brand and position in the transaction data room market is set to make the merged business a global force in the information governance technology market. It is great news for our customers, our shareholders and our people."

Stuart Clout, TDY Founder and CEO

Comments from Ansarada leadership:

"The combined technology and expertise of Ansarada and thedocyard will create an unrivalled SaaS platform for information governance and end-to-end management of corporate transactions. Companies and their advisers will be positioned better than ever to improve performance and ensure they are ready to act with confidence in every critical decision and transaction.”

Sam Riley, Ansarada Founder and CEO

Comments from Barclay Pearce leadership:

"Over the past 14 months, TDY has developed its story into an ASX listed multinational corporation and this transaction continues to build on that. The combination of technology, expertise, and proven success of Ansarada and TDY positions the New Entity as a global leader within the data storage, deal flow management, and information governance technology market. It's exciting news for all parties!"

Ethan Perrett, Senior Investment Analyst

Learn more about the acquisition in TDY's latest ASX Announcement.

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