Atturra Limited (ASX:ATA) entered into a binding scheme implementation deed to acquire Cirrus Networks Holdings Limited (ASX:CNW) for AUD 49.5 million on September 11, 2023. As per the transaction, Cirrus shareholders will receive consideration with a total value of AUD 0.053 per share. Cash payment of the transaction will be financed from new debt facility of AUD 30 million.

The transaction is approved by board of directors of Cirrus Networks Holdings Limited and is subject to shareholders approval of Cirrus Networks Holdings Limited and court approval. The transaction is expected to close in December 13, 2023. Moelis Australia Advisory Pty Ltd acted as financial advisor and HWL Ebsworth Lawyers Pty Ltd. acted as legal advisor to Atturra Limited.

Latimer Partners Pty Ltd acted as financial advisor and Corrs Chambers Westgarth acted as legal advisor to Cirrus Networks Holdings Limited. Automic Pty Ltd. acted as registrar.