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Record-breaking Melbourne tech firm spends big in Ireland M&A

Yolanda Redrup
Yolanda RedrupRich List Editor

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The Melbourne-born tech company that jointly holds the record for the largest venture capital raise completed by an Australian business, Cyara, has acquired an Irish communications testing company, in a deal understood to be worth upwards of $US100 million ($150 million).

The deal, the terms of which were undisclosed, comes after the local customer experience assurance company raised $US350 million in February last year from US-based growth capital firm K1 Investment Management, securing its spot in local start-up legend.

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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com

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    Original URL: https://www.afr.com/technology/a-new-focus-on-profits-hasn-t-stopped-k1-backed-cyara-s-m-and-a-push-20230327-p5cvi0