Business
Dye & Durham Announces Closing of Credas Divestiture
Dye & Durham Announces Closing of Credas Divestiture Dye & Durham Announces Closi...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n\n\n\nDye & Durham Announces Closing of Credas Divestiture\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\nDye & Durham Announces Closing of Credas Divestiture\nCanada NewsWire\n\n\nTORONTO, Jan. 6, 2026 /CNW/ - Dye & Durham Limited (the \"Company\" or \"Dye & Durham\") (TSX: DND), a leading provider of cloud-based legal practice management software, today announced that it has closed its previously announced divestiture of Credas Technologies Ltd. (\"Credas\") to SmartSearch, an established UK provider of anti-money laundering software and a portfolio company of Triple Private Equity (the \"Transaction\").\nUnder the terms of the Transaction, Dye & Durham received gross cash proceeds of approximately £77.8 million, or approximately C$146.3 million. The Company intends to use all of the net proceeds from the Transaction to repay outstanding senior secured debt, advancing its deleveraging priorities and further strengthening its balance sheet.\n\"The successful completion of the Credas divestiture represents an important milestone in our strategy to simplify the business and sharpen our focus on our core legal software platforms\", stated George Tsivin, CEO of Dye & Durham. \"We are pleased with the outcome of the Transaction and the value created for our shareholders, while strengthening our balance sheet through debt repayment.\"\nAs part of the Transaction, Dye & Durham has entered into a commercial agreement with Credas and SmartSearch, ensuring continuity of service for the Company's practice management and data insights customers in the UK.\nABOUT DYE & DURHAM LIMITED\nDye & Durham Limited provides premier practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions and enables the essential payments infrastructure trusted by government and financial institutions. The company has operations in Canada, the United Kingdom, Ireland, Australia, and South Africa.\nAdditional information can be found at www.dyedurham.com.\nForward-Looking Statements\nT...