Dye & Durham Limited, one of the world's largest providers of cloud-based legal practice management software designed to make managing a law firm, organizing cases, and collaborating with clients easy, today announced it has entered into an agreement to sell TM Group (UK) Limited ("TM Group") to AURELIUS, a globally active alternative investment firm. As part of the transaction, Dye & Durham will receive approximately CAN$ 83.6 million (£50 million) in cash at closing, with up to CAN$ 68.5 million (£41 million) in potential additional earn-out payments between 2023 and 2026, for total consideration of up to CAN$152 million (£91 million), subject to certain adjustments. Closing is expected to occur in August and the transaction has received approval from the United Kingdom's Competition and Markets Authority. Dye & Durham plans to use the net proceeds it receives at closing to reduce its debt. "We're pleased to enter into this agreement with AURELIUS and put this regulatory process behind us. While TM Group wasn't material to our overall business, it is a profitable organization that will generate additional value in the hands of its new ownership," said Dye & Durham CEO Matthew Proud. "We plan to seek new M&A opportunities in the UK to continue to scale our business into the world's leading legal technology company."