99.95% Vote in Favor of Dropsuite’s $5.90 Per Share Scheme with NinjaOne
Dropsuite Limited shareholders have decisively backed the proposed acquisition by NinjaOne Australia, with 99.95% voting in favor. The deal now awaits final court approval before completion and shareholder payouts.
- 99.95% of shareholder votes support the acquisition scheme
- Scheme subject to Federal Court approval on 14 May 2025
- Shares to be suspended post-approval, effective 14 May
- Shareholders to receive A$5.90 cash per share on 30 May
- Acquisition marks a significant consolidation in cloud software sector
Shareholder Approval Signals Strong Support
Dropsuite Limited (ASX:DSE) has secured overwhelming shareholder approval for its proposed acquisition by NinjaOne Australia Pty Ltd. At the scheme meeting held on 9 May 2025, an extraordinary 99.95% of votes cast were in favor of the scheme of arrangement, reflecting near-unanimous shareholder confidence in the transaction.
This decisive endorsement follows the detailed disclosures and strategic rationale laid out in the Scheme Booklet released earlier in April. The strong vote underscores the market’s positive reception to the acquisition terms, which offer Dropsuite shareholders a cash consideration of A$5.90 per share.
Next Steps: Court Approval and Implementation
While the shareholder vote is a critical milestone, the scheme remains conditional on the Federal Court of Australia’s approval scheduled for 14 May 2025. Assuming the court grants its consent and all other conditions precedent are satisfied or waived, the scheme will become legally effective on the same day.
Following this, Dropsuite shares will be suspended from trading on the ASX, marking the end of their independent listing. The scheme implementation date is set for 30 May 2025, when shareholders on the record date (16 May 2025) will receive their cash payments.
Strategic Implications for the Cloud Software Sector
The acquisition by NinjaOne, a notable player in IT management solutions, signals a strategic consolidation within the cloud software space. Dropsuite’s cloud backup and recovery platform complements NinjaOne’s portfolio, potentially enhancing service offerings and market reach.
For investors, the transaction offers a clear exit at a premium price, while the combined entity may unlock synergies and competitive advantages in a rapidly evolving technology landscape.
Market and Regulatory Considerations
Investors should note that the timetable remains indicative and subject to change, with the court’s decision pivotal to the transaction’s completion. The Australian Securities and Investments Commission will be notified upon the scheme’s effectiveness, ensuring regulatory compliance.
Shareholders are advised to consult professional advisers if uncertain about the implications or next steps.
Bottom Line?
With shareholder approval secured, all eyes now turn to the Federal Court’s verdict, which will determine if this transformative acquisition closes on schedule.
Questions in the middle?
- Will the Federal Court approve the scheme without conditions or delays?
- How will NinjaOne integrate Dropsuite’s technology and customer base post-acquisition?
- What impact will the acquisition have on Dropsuite’s existing partnerships and market positioning?
