DLA Piper has advised US tech company Life360 on its AUD$820 million IPO and ASX listing. This is the largest Initial
Public Offering (IPO) on the Australian Securities Exchange this year and one of the largest-ever tech debuts on the
ASX.
Life360 is San Francisco-based, and has had huge success with its market-leading app for families. The Life360 app has
18.5 million monthly users in 160 countries, with features ranging from communications to driving safety and location
sharing.
A listing of this magnitude actually boosts the ASX itself; it aspires to become a junior Nasdaq board for global
fast-growth tech stocks. Life360 adds to its growing list of US tech companies; what attracts them down under is the
compelling alternative to sourcing later stage capital in the US.
Life360's Chief Business Officer, Itamar Novick, praised DLA Piper’s project management: "DLA Piper is developing a
strong reputation as the go-to firm for helping list US tech companies on the ASX,” he says. “They expertly guided us
through all the twists and turns of our IPO and listing process. We quickly knew we could trust them to help us
successfully execute our vision."
While the deal was led out of DLA Piper's Sydney office by David Ryan, the firm also advised on New Zealand securities
law aspects of the transaction, which also involved the firm in Hong Kong and the United Kingdom.
DLA Piper New Zealand Corporate partner Rachel Taylor, says "This transaction showcases the strength of the firm in
global capital markets transactions in the technology sector and builds on DLA Piper's track record in advising US tech
companies on their ASX listings. It also shows the power of the firm being able to streamline advice over multiple
jurisdictions to achieve great results for our clients."