Dye & Durham acquires Future Climate Info for $94 million

TORONTO, May 17, 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 announced it has acquired Future Climate Info Limited and certain assets from CLS Property Insights Limited (together “FCI“) for approximately $94 million (£55 million).

Headlines:
  • The acquisition expands Dye & Durham’s capabilities in the U.K. real estate value chain, adding products which are already utilized by Dye & Durham’s customer base and accessed through its platform today
  • Through its proprietary cloud based technology, Future Climate Info provides access to critical intelligence information that enables smarter insights for mission critical decisions on most real estate transactions

Through its cloud-based technology, FCI provides access to critical intelligence needed in assessing environmental risk in a property transaction by analysing proprietary data. The acquisition will enhance Dye & Durham’s offerings to its U.K. based clients, providing seamless integration with a product that is already accessed through Dye & Durham’s workflow platform today and used on most real estate transactions.

Matt Proud, CEO of Dye & Durham, said:

“This acquisition is consistent with our stated objective of expanding within the ecosystems in which we operate, and in this case, brings into our ownership mission critical aspects of the U.K. property transaction process.

“Through our Platform, our customers are, by far, one of the largest consumers of environmental, ground risk and liability reports in the United Kingdom. The acquisition of FCI, along with the recently announced acquisition of Terrafirma, will allow us to drive significant revenue synergies as we provide a far more efficient and integrated offering.”

While the acquisition multiple is not disclosed, the Company believes that it will be able to achieve post-synergy returns that are consistent with the Company’s targeted return model.

 

Kindly shared by Dye & Durham

Main photo courtesy of Pixabay