DLA Piper advises NASDAQ listed Aspen Technology, Inc. on AU$900m acquisition

Global law firm DLA Piper has advised NASDAQ-listed software provider Aspen Technology, Inc. (AspenTech) on its proposed acquisition of the Australian-headquartered mining software business Micromine Group, from private equity firm Potentia Capital and others for approximately AU$900 million in cash.  The share sale and purchase agreement signed on 27 July 2022.

“We were thrilled to advise AspenTech on this strategic acquisition as the AspenTech group continues to expand its global offering of asset optimisation solutions for the mining industry,” said Grant Koch, Head of Corporate, DLA Piper Australia.

“The acquisition secures technology which will assist the mining industry’s overall sustainability, and its ability to increase the supply of metals required for the energy transition,” Grant added.

Micromine Group is a global leader in design and operational solutions for the mining industry servicing more than 90 countries via operations in 10 jurisdictions.  

“The global nature of the target business, coupled with the hotly contested sale process and compressed transaction timeline, necessitated seamless legal support.  DLA Piper was able to mobilise a team of more than 50 DLA Piper lawyers spanning eight jurisdictions, to deliver seamless cross-border transaction advice and a comprehensive multi-jurisdictional legal review across all relevant practice areas, including global sanctions, and assist AspenTech in delivering its compelling bid,” said Grant.

The DLA Piper Australia team was led by Grant Koch (Head of Corporate, Australia) supported by Elizabeth Campbell (Senior Associate), Matt Nowotny-Walsh (Senior Associate), Joshua Scoles (Solicitor) and Kayla Stathis (Solicitor), alongside Australian specialists Nicholas Boyle (Partner), Nicholas Turner (Partner) Jyoti Singh (Partner) and Alex Regan (Partner), Amelia Clarke (Special Counsel), Clancy King (Special Counsel), Alexander Horder (Senior Associate) and solicitors, Stephanie Lambros and Alexandra Moore, together with an international team including lawyers in Dubai (Ramsey Jurdi, Partner and Laura Shingler, Legal Director), Canada (Robert Fonn, Partner and Joseph Soifer, Associate), South Africa (Peter Bradshaw, Partner and Danielle Robbertze, Associate), the UK (Partners Chris Arnold and Sam Szlezinger with Martin Strom, Senior Associate and Sherrine Hashish, Associate), the US (Kevin Criddle, Partner and Bernadette Senyana, Associate), Hong Kong (Tina Xia, Partner) and China (Margaret Tan, Senior Consultant).

“This transaction really highlighted the benefits of working with a truly global firm on multi-jurisdictional transactions of this kind,” Grant added.

For the 12th consecutive year, DLA Piper was the highest-ranked legal advisor in the world for M&A deal volume, according to Mergermarket's league tables. The firm was involved in 1,104 transactions worldwide in 2021, valued at approximately US$242 billion.