Dye & Durham to Divest Credas as Investor Pressure Mounts (1)

(Adds share move, analyst comment.)

Canadian legal software firm Dye & Durham, which is under mounting pressure from some investors to sell the company, rises 9% after saying it agreed to divestCredas Technologies for about C$146.3 million.

• Credas is a UK-based provider of identity verification and anti-money laundering solutions; the buyer is SmartSearch
• Dye & Durham will use the net proceeds to repay outstanding senior secured debt
• The sale is part of Dye & Durham’s strategic reset to focus on its core business
• Dye & Durham initiated a strategic review in July that may include a sale of ...