As reported in The Australian, Elula will also enter into a strategic partnership with PEXA Group, which will bring the AI software company new opportunities to further enhance its proven product offering, roll out new products to market and to utilise PEXA’s data to strengthen and accelerate its strategic growth plans.
Corporate and M&A partner Jeremy Lanzer led the transaction, with assistance from lawyers Max Grunwald and Natalie Ryan. Jeremy commented on the transaction: “We are so pleased to have advised long-standing client Elula on this milestone transaction with PEXA, which recognises its position as a leading AI software provider in Australia. We look forward to continuing to work with Elula on the next phase of its growth and success.”
Elula co-founder and co-CEO Sarah Russell said: “This investment by PEXA brings together two leading data businesses. It will allow us to further enhance Elula’s proven product offering and develop new ways to add value for customers in an ever-changing environment.”
Elula co-founder and co-CEO Josh Shipman said: “Elula is delighted to be partnering with PEXA and this investment will allow us to accelerate our strategic growth plans by bringing new products to market.”