Ideagen Limited agreed to acquire Damstra Holdings Limited (ASX:DTC) for AUD 69.6 million on November 23, 2023. As of January 22, 2024 Ideagen has revised its offer price to AUD 0.24 per share. Transaction has a termination fee of AUD 0.69 million and reverse break free for the same amount.As of April 16, 2024 Supreme Court of New South Wales approved the scheme of arrangement. Transaction has received approval from Damstra Holdings Limited's board, regulatory approval,Damstra Holdings Limited's shareholder's approval.

Jefferies Australia acted as financial adviser and Gilbert + Tobin as legal adviser to Damstra Holdings Limited. Morgan Stanley Australia Securities Limited acted as Financial advisor to Ideagen Limited and MinterEllison acted as legal advisor to Ideagen Limited.