International regulatory and compliance software company Ideagen Ltd has acquired Australian health, safety, environment and quality software company Lucidity Software Pty Ltd with assistance from Thomson Geer.

The acquisition builds on UK-based Ideagen's geographic footprint and increases the support it can offer to regulated industries in the Australian region.

Thomson Geer supported Ideagen by advising on due diligence, Foreign Investment Review Board matters, dealing with cross border elements including shareholder approval requirements of the New Zealand vendor, drafting and negotiation of transaction documents to final form, negotiating warranty and indemnity insurance and attending to completion of the deal.

Ideagen CEO Ben Dorks said in a statement: "Australia is a hot bed of good, innovative tech businesses and Lucidity is a great example of this – a class-leading solution offering customers depth of functionality and scalability to meet their EHS and quality needs."

The Thomson Geer team was led by Partner Eugene Fung, who said: "We are pleased to have advised Ideagen on its latest acquisition in Australia. We are especially proud to have helped navigate complex cross-border aspects of the transaction. Software companies operate in a global environment and foreign investment rules can be a key factor in M&A activity between them."

Eugene was supported by Partner Mark Branagan, Special Counsel Melanie Mitchell and Lawyers Lachlan Peat and Alexandra Smith.

TG also advised Ideagen on its acquisition of Australian software company OnePlace Solutions in May 2023.

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