Envirosuite Limited (ASX:EVS) Announces Acquisition by Ideagen Limited
Transaction Details
Envirosuite Limited (ASX: EVS) has entered into a Scheme Implementation Deed with Ideagen Limited to acquire 100% of Envirosuite’s fully diluted share capital. The acquisition is valued at A$132.2 million, with shareholders receiving A$0.090 per share, representing a 109.3% premium to the last closing price of A$0.043 on 24 February 2025. The deal marks the culmination of extensive engagement between Envirosuite and Ideagen.
Shareholder Support
Significant shareholders, including Perennial Value Management and Hitachi Construction Machinery, have indicated their intention to vote in favor of the Scheme, subject to the absence of a Superior Proposal and the Independent Expert’s favorable conclusion. This strong shareholder backing underscores the confidence in the proposed acquisition.
Executive Comments
Envirosuite’s CEO, Mr. Jason Cooper, stated, “Envirosuite has been at the forefront of defining the environmental intelligence market category, building a business and brand now recognised as one of the global leaders in environmental intelligence technology that empowers industry, people and planet to prosper in partnership. The proposed transaction represents strong validation of the unique value Envirosuite has built and aligns with Ideagen’s vision to support sustainable and disciplined business practices. As we move into this next phase, Envirosuite remains focused on delivering value to our customers, maintaining the integrity of our solutions and continuing to lead in environmental intelligence.”
Ideagen’s CEO, Mr. Ben Dorks, added, “Ideagen’s purpose is to deliver world-class solutions that address the most pressing, complex challenges in health, safety, risk, and quality for high-compliance industries. The addition of Envirosuite’s cutting-edge environmental management capabilities provides a significant opportunity to strengthen our existing EHS portfolio, enabling us to provide targeted solutions for environmental compliance and risk management. This strengthens our support for critical industries, particularly aviation, mining and industrial, empowering our customers to mitigate environmental impacts with greater accuracy and confidence on a global scale.”
Future Outlook
The implementation of the Scheme is subject to Foreign Investment Review Board (FIRB) approval, court approval, and shareholder approvals. The Scheme Meeting is anticipated to be held in late July or early August 2025. Upon approval and satisfaction of all conditions, the acquisition is expected to be finalized soon thereafter.
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