Foley Represents Mirantis in Sale to IREN for $625 Million in
IREN Stock

Combination to Strengthen AI Cloud Delivery Capabilities

Foley & Lardner LLP represented Mirantis, a provider of cloud infrastructure, Kubernetes-based orchestration, and enterprise support services, in the negotiation of a definitive agreement to be acquired by IREN Limited.

Mirantis has a track record of serving over 1,500 enterprise customers globally and is a founding Independent Software Vendor partner of the NVIDIA AI Cloud Ready Initiative. Its k0rdent AI platform is designed to help manage AI infrastructure across bare metal, virtual machines, and Kubernetes environments.

The acquisition of Mirantis is expected to build on IREN’s existing software, engineering, and customer support capabilities, enhancing how compute is deployed, managed, and operated for customers.

Mirantis is expected to operate as a standalone subsidiary, serving its existing customer base while supporting IREN’s AI Cloud deployments.

The transaction consideration will be paid in IREN ordinary shares, representing an aggregate value of approximately $625 million at signing. Closing remains subject to customary conditions, including required regulatory approvals.

The Foley M&A Team

The Foley M&A team was co-led by partners Louis Lehot and Nicholas O’Keefe and included partner Eric Chow and associates Saige Gallop and Alex Turqueto.

The team also included partner Rishi Sodhi and associate Jacob Davis (Tax), partner Kathleen Bardunias and associate Cullen Werwie (Executive Compensation), partner Christoper Swift and associates Natalie Garcia and Andrew Nassab (CFIUS), partner Benjamin Dryden and associate Jason Gindi (Antitrust), counsel Sophie Lignier (Global Antitrust and FDI), of counsel Alan Pate and associate Sarah Waste (Commercial), and special counsel Justin Sobaje (Intellectual Property).