Allens has advised long-standing Allens Accelerate client Canva on its acquisition of interactive presentation startup Zeetings.
The acquisition is the first M&A transaction for Canva, which became a rare Australian tech 'unicorn' upon its $1 billion valuation in January.
Allens advised on all aspects of the transaction, including the transaction documents, sale structure and completion deliverables.
'Canva is an undisputed leader in design and digital, and its acquisition of Zeetings – which already boasts an impressive roster of high-profile clients – is a major step forward,' said Elyse Adams, Senior Associate and Co-head of Allens Accelerate.
'The deal is also indicative of the evolution of Australia's startup and scaleup market. It's no longer rare for Australian startups to achieve that level of market status, and we're seeing many of our Accelerate clients reach significant scale, making them viable and competitive in the market.'
Allens Accelerate became the first dedicated startups and scaleups practice at a major law firm in Australia when it launched in 2015. Since then, it has advised on some of the most significant acquisitions, investments, supplier arrangements and ICOs in the market, including working with Data Republic and AgriWebb, as well as advising Power Ledger on its $34 million ICO.
Allens legal team
Chris Blane (Partner, M&A), Elyse Adams (Senior Associate and Co-head of Allens Accelerate)
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.