Acquirer(s)

  • DS Answer Pty Ltd

Target(s)

  • Ansarada Group Limited

Summary

DS Answer Pty Ltd is a wholly owned subsidiary of Mermaid EquityCo L.P., which owns and controls Datasite, LLC (Datasite). On 13 February 2024, Ansarada announced that it signed a scheme implementation deed with Datasite to acquire 100% of the fully diluted share capital in Ansarada Group Limited (Ansarada) by way of a Scheme of Arrangement.

Datasite is a US incorporated software as a service (SaaS) platform used by enterprises to execute strategic projects. Datasite’s product suite includes virtual data room (VDR) solutions, board reporting solutions, a pipeline management application, a market intelligence application and a project marketing platform. Datasite provides services in Australia and overseas, with its users primarily located in North America and EMEA.  

Ansarada is an ASX listed provider of a SaaS platform comprising 5 solutions: VDR and transaction management, board management, compliance, ESG and procurement solutions. Ansarada’s largest product is ‘Deals’, a VDR solution for an end-to-end transaction process. It also offers a centralised platform for procurement processes, and secure file sharing and storage tools.

Datasite and Ansarada overlap in the supply of VDRs and transaction management software solutions in Australia. VDR and transaction management software solutions are part of the enterprise content and collaboration (ECC) industry, used by organisations to manage and share documents, data and information for transaction use cases, such as mergers and acquisitions, debt and equity capital raising transactions or bankruptcy.

Market inquiries

Submissions are invited from interested parties regarding DS Answer’s proposed acquisition of Ansarada by 5pm on 12 April 2024

Submissions should be forwarded electronically (preferably in PDF format) to mergers@accc.gov.au

For more details, please refer to the Market Inquiries Letter published below. 

Following 12 April 2024, queries regarding the ACCC’s review may also be addressed to mergers@accc.gov.au.

Market inquiries

Timeline

Date Event

ACCC commenced review under the Informal Merger Review Process Guidelines.

Closing date for submissions.

Timeline suspended pending receipt of information from the parties.  Former provisional date for announcement of ACCC's findings (6 June 2024) is delayed.  The ACCC will announce a revised proposed decision date in due course.

ACCC received further information from the parties. Timeline recommenced.

Proposed date for announcement of ACCC’s findings (as outlined in the Informal Merger Review Process Guidelines, this may be a final decision or release of a Statement of Issues).

Project staff

  • ACCC Mergers

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