Temenos Group AG’s $70 million Acquisition of Rubik Financial Limited

Gilbert + Tobin is pleased to have advised ASX listed fintech company, Rubik Financial Limited (Rubik), on its $70 million scheme of arrangement with Temenos Group AG (Temenos).

Gilbert + Tobin advised Rubik on the scheme of arrangement that closed today, under which Temenos, through its indirectly wholly owned subsidiary, Temenos Solutions Australia Pty Ltd, acquired 100% of the shares on issue in Rubik for total cash payments in excess of $70 million.

The scheme of arrangement was overwhelmingly supported with 97.72% of the votes cast by Rubik shareholders in favour of the transaction.

Rubik is a leading Australian fintech company that delivers innovative banking, financial services and collections software solutions. Rubik’s clients are Australia’s leading financial institutions, including all four major Australian banks and a growing list of international financial institutions across Asia and the Middle East.

Listed on the Swiss Stock Exchange, Temenos is the market leading provider of mission critical software to financial institutions globally, with more than 2,000 customers in over 150 countries. Headquartered in Geneva, Switzerland, Temenos’ clients include 38 of the top 50 banking institutions in the world.

Corporate Advisory partner Adam Laura (Picture) led the team, supported by Corporate Partner Tim Gordon and Litigation partner Crispian Lynch, as well as lawyers Lucy Hall, James Campisi, Josh Ehrenfeld and Alice Pailthorpe.

 

Involved fees earner: Adam Laura – Gilbert + Tobin; Tim Gordon – Gilbert + Tobin; Lucy Hall – Gilbert + Tobin; James Campisi – Gilbert + Tobin; Alice Pailthorpe – Gilbert + Tobin; Crispian Lynch – Gilbert + Tobin; Joshua Ehrenfeld – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Rubik Financial Limited;

 

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Author: Michael Patrini