NinjaOne Pays $5.90 Per Share to Acquire Dropsuite, Board Overhauled
NinjaOne has completed its acquisition of Dropsuite, paying shareholders $5.90 per share and installing a new board as the company prepares to delist from the ASX.
- NinjaOne acquires 100% of Dropsuite shares via scheme of arrangement
- Shareholders receive $5.90 per share for all holdings
- Complete overhaul of Dropsuite board with four new directors appointed
- Dropsuite shares suspended from ASX trading since May 14
- Formal delisting from ASX expected by June 2, 2025
Acquisition Finalised
On May 30, 2025, Dropsuite Limited officially became a wholly owned subsidiary of NinjaOne Australia Pty Ltd following the successful implementation of a scheme of arrangement. This move marks a significant milestone for both companies, concluding a process that began with the announcement of the acquisition earlier this year.
Shareholders of Dropsuite received a cash consideration of $5.90 per share, reflecting NinjaOne’s valuation of the cloud software company. This payment was dispatched to all shareholders recorded as of the scheme record date, May 16, 2025.
Governance Shake-Up
With the acquisition’s completion, the entire existing board of Dropsuite resigned, making way for a new leadership team appointed by NinjaOne. Christopher Matarese, Salvatore Sferlazza, Melanie Leydin, and Bill Kyriacou now helm the company’s board, signaling a fresh strategic direction under NinjaOne’s stewardship. Additionally, Bill Kyriacou took over as company secretary following Kobe Lizheng’s resignation.
ASX Delisting on the Horizon
Trading in Dropsuite shares was suspended on May 14, ahead of the scheme’s implementation. The company has confirmed its intention to apply for removal from the official ASX list effective before the market opens on June 2, 2025. This delisting will mark the end of Dropsuite’s public trading era and its transition into a private entity within NinjaOne’s portfolio.
Looking Ahead
Dropsuite’s cloud backup and recovery platform has been a notable player in the technology sector, particularly among IT service providers. Under NinjaOne’s ownership, the company is expected to leverage combined resources and expertise to accelerate growth and innovation. However, details on integration plans and strategic priorities remain forthcoming.
Bottom Line?
As Dropsuite exits the ASX, all eyes turn to how NinjaOne will reshape its cloud software future.
Questions in the middle?
- What are NinjaOne’s strategic plans for integrating Dropsuite’s technology and services?
- How will the new board influence Dropsuite’s product development and market positioning?
- What impact will the delisting have on Dropsuite’s existing customers and partners?