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G+T advises Web.com on its acquisition of ASX-listed Dreamscape Networks Limited
G+T is pleased to be advising Web.com on its proposed acquisition of the ASX-listed domain registration and hosting company Dreamscape Networks Limited by scheme of arrangement.
Dreamscape is a leading online solutions provider under various brands including Crazy Domains and Vodien. Web.com’s all-cash proposal is unanimously recommended by Dreamscape’s independent board committee, in the absence of a superior proposal and subject to an independent expert concluding the scheme is in the best interests of its shareholders. The proposal is supported by call option arrangements over 19.9% of Dreamscape shares.
Commenting on the deal, partner Kevin Ko said “We are delighted to be advising Web.com on this strategically important transaction, together with its US and Singapore advisers. This transaction will expand Web.com’s presence into high-growth digital economies across Australia, New Zealand and South East Asia through the acquisition of a highly complementary business. We are pleased that our leading expertise in public M&A has resulted in this very successful outcome for our client.”
The team also included Corporate Advisory partner Alastair Corrigall and were also supported by specialists throughout the firm including Competition + Regulation partner Simon Muys and senior lawyer Amelia McKellar, Digital + Technology partner Melissa Fai, Banking + Infrastructure special counsel Spiro Papadolias, Disputes + Investigations partner Lisa Lennon and special counsel James Pomeroy, Tax partner Muhunthan Kanagaratnam and Real Estate + Projects special counsel Jo Bayes.
The scheme is expected to be implemented later in 2019.
Gilbert + Tobin’s market-leading Corporate Advisory team has advised on many of Australia’s largest and most innovative transactions, including recently advising DuluxGroup on its proposed $4.2 billion acquisition by Nippon Paint, BGH Capital on its proposed $2.3 billion acquisition of Navitas, TPG on its $1 billion acquisition of Greencross and Viva Energy on its $2.65 billion IPO.