We’re delighted to have helped with shareholder documentation for the £159m acquisition of Tribal Group plc, a leading ERP and CRM software & services provider to the education sector, by Ellucian, a leading tertiary education technology solutions provider. The all-cash offer values Tribal's entire issued, and to be issued, ordinary share capital at approximately £159 million on a fully diluted basis and implies an enterprise value of £172 million.
Together with Tribal, Ellucian will enhance and expand its global product capabilities, leading to a broader set of modern technology solutions that enable institutions to deliver an exceptional student experience. In addition, the combination will allow Ellucian to provide improved product and support across geographies while expanding the company's customer base.
Bank of America Merrill Lynch served as lead financial advisor and RBC Capital Markets, LLC also served as financial advisor to Ellucian. Kirkland & Ellis International LLP and Axinn Veltrop & Harkrider served as legal advisors to Ellucian. William Blair International, Limited served as financial advisor to Tribal and Taylor Wessing served as legal advisor to Tribal.
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