April 15, 2016

Insight acquired the New Zealand software company in a cross-border, take-private transaction valued at approximately US$624 million.

On April 14, Willkie client Insight Venture Partners completed its acquisition of New Zealand software company Diligent Corporation for US$4.90 per share in cash, or approximately US$624 million. Insight’s acquisition of Diligent, which debuted on the New Zealand Stock Exchange in 2007, reflects an increase of take-private deals in the wake of market volatility worldwide.

Diligent is the leading provider of secure corporate governance and collaboration solutions for boards and senior executives. More than 4,000 clients in more than 60 countries and on all seven continents rely on Diligent to provide secure, intuitive access to their most time-sensitive and confidential information.

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries.

The Willkie deal team was led by partners Gordon Caplan, Morgan Elwyn and Thomas Mark, and included partners David Tarr, Jordan Messinger, Hillel Jacobson and Daniel Alvarez; counsel Kim Walker and Ajanaclair Lynch; associates Jonathan Kubek, Caleb Vesey, Halie Klein, Hyejin Jennifer Kim, Meredith Levy, Timothy DeKeyser, Jacob Moss, Daniel Bumpus and Eric Schmidt; and law clerks Peter Coulson and Eric DiMuzio.