Dropsuite shares rocket on NinjaOne acquisition
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More news: Shares in ASX small cap Dropsuite surged after the cloud software company received a $402 million takeover proposal from US-based IT platform NinjaOne.
Dropsuite shares were up 29.8% to $5.71 by 12:30pm AEDT, having more than doubled in value over the last 12 months.
NinjaOne to acquire ASX-listed Dropsuite for $402m
The news: US-based IT platform NinjaOne has agreed to buy ASX-listed software company Dropsuite for USD252 million ($402 million).
The context: The acquisition is expected to close in the first half of 2025, subject to approval by Dropsuite’s shareholders, court approval, Australia’s Foreign Investment Review Board approval, and other customary closing conditions.
NinjaOne said its automated endpoint management platform, combined with Dropsuite's data protection suite, will help IT organisations and managed service providers safeguard against the impact of catastrophic events, such as ransomware attacks and day-to-day tech issues including accidental deletion and data archiving for legal and compliance.
What they said: "Dropsuite will help our customers be more successful by extending data protection from the endpoint to SaaS applications, automating and simplifying backup, and filling critical data protection gaps," said Sal Sferlazza, CEO and co-founder at NinjaOne.
Dropsuite CEO Charif El-Ansari said: "By joining NinjaOne, Dropsuite will be able to help provide customers with the tools needed to backup and protect endpoints and the most mission-critical SaaS applications from a single platform."
The source: NinjaOne media release
