Dye & Durham to sell Credas for 77.8 million pounds

Mr. George Tsivinreports DYE & DURHAM ANNOUNCES DIVESTITURE OF CREDAS TECHNOLOGIES LTD. FOR POUNDS STERLING77.8 MILLION Dye & Durham Ltd. has entered into a definitive agreement to sell Credas Technologies Ltd., a United Kingdom-based provider of identity verification and anti-money-laundering solutions, to SmartSearch, an established U.K. provider of anti-money-laundering software and a portfolio company of Triple Private Equity. The transaction is subject to customary closing conditions, including receipt of required regulatory approvals. Under the terms of the agreement, Dye & Durham will receive gross proceeds of approximately 77.8 million pounds sterling (or approximately $146.3-million) (1). The company intends to use all net proceeds to repay outstanding senior secured debt, advancing its deleveraging priorities and further strengthening its balance sheet. Since acquiring Credas, Dye & Durham has helped the business grow and scale, and the transaction represents a successful realization of that investment. "This is an important strategic accomplishment for our new management team, which has come together over the past several months with a clear mandate to reset the business," said George Tsivin, chief executive officer, Dye & Durham. "The sale of Credas is directly aligned with that reset by reducing debt, strengthening the balance sheet and reinforcing the foundation for sustainable shareholder value. At the same time, we remain focused on our customers, delivering modern, integrated products and exemplary service that help them run their businesses more efficiently every day. By executing on our priorities -- deleveraging, putting customers first and driving operational efficiency -- we are positioning Dye & Durham to deliver long-term success and lasting value for shareholders." As part of the transaction, Dye & Durham has entered into a commercial agreement with Credas and SmartSearch, ensuring continuity of service for the company's practice management and data insights customers in the U.K. "While Credas is a valuable business, it is not core to Dye & Durham's global product offering. I want to thank Tim Barnett and the entire Credas team for their contributions," added Mr. Tsivin. "We are confident they will continue to be leaders in their field, and we look forward to maintaining a strong commercial relationship under their new ownership." Canaccord Genuity Corp. is serving as financial adviser to Dye & Durham, and Dentons is serving as its legal adviser. (1) British-pound-to-Canadian-dollar exchange rate of $1.88, as of Oct. 6, 2025. About Dye & Durham Ltd. Dye & Durham provides premier practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions, and enables the essential payment infrastructure trusted by government and financial institutions. The company has operations in Canada, the United Kingdom, Ireland, Australia and South Africa. We seek Safe Harbor.