Dye & Durham Acquires TM Group (UK) Limited
TORONTO, July 8, 2021 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announces the acquisition of TM Group (UK) Limited ("tmgroup") for approximately $156 million (£91.5 million).
tmgroup is a leading provider of technology-enabled real estate due diligence solutions used by law firms and conveyancers to complete both residential and commercial real estate transactions across England, Wales and Scotland.
"We are pleased to be announcing this latest acquisition as it allows us to further scale our business in the U.K. and deliver top-tier solutions to the property conveyancing market participants who rely on our technology for their day-to-day activities," stated Matt Proud, CEO of Dye & Durham.
The transaction will be financed with cash on hand.
About Dye & Durham
Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations. Additional information can be found at www.dyedurham.com.
About TM Group (UK) Limited
tmgroup make the complexities in the property transaction beautifully simple; bringing together over 20 years' experience as a leading provider of property searches in England, Wales and Scotland, as well as related data and technology services, to support all connected parties across the chain – including residential conveyancers, real estate professionals, and estate agents – with the latest, innovative solutions to help improve communication, efficiency and collaboration.
Forward-looking Statements
This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company's current expectations regarding future events. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the prospectus supplement of the Company dated February 18, 2021 to the short form base shelf prospectus of the Company dated November 18, 2020 (including the documents incorporated by reference therein). Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Dye & Durham Limited
Ross Marshall, LodeRock Advisors Inc., [email protected], 416.526.1563
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