Hall & Wilcox advises fintech business Adatree on sale of 100% of shares to Fat Zebra

Hall & Wilcox advised fintech business Adatree on the sale of 100% of its shares to Fat Zebra, the leading Australian payments gateway.

Adatree is the market-leading open data intermediary for the Australian Consumer Data Right, which allows the public to safely and securely share the data that businesses hold about them. Fat Zebra has more than 30,000 clients, including Macquarie and Zip.

Partner and Fintech & Blockchain Lead John Bassilios led the Hall & Wilcox team, which included partner Anthony Bradica, special counsel James Bull and lawyer Daniel Shizas.

The team advised on and prepared and negotiated heads of agreement and share purchase deed, facilitating completion and settlement of the sale.

John Bassilios said, ‘This is a very significant step for our client. Being a startup, the exit is always special. The deal is also special for Hall & Wilcox, as we have had Adatree as a client from its early days. It was part of our Frank Lab startup program in 2021, so seeing the company grow to its exit is significant.’

Adatree CEO and co-founder Jill Berry said, ‘Hall & Wilcox has been an integral part of our startup journey, from being part of the Frank program and helping grow and scale our capabilities, to being key to our exit. They’ve been able to help with our challenges and opportunities along the way and couldn’t have been a better partner for our legal needs.’

Hall & Wilcox is a leading independent law firm. We have more than 1000 people, including 130+ partners, working across eight offices. We build partnerships with and service corporate, public sector and private clients, both Australian-based and international.