Foley Equipped
Insights

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 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).

Disclaimer

AUTHOR(S):

POSTED:

Subscribe to our newsletter
Subscribe

© 2025 Foley & Lardner LLP
Attorney Advertisement
Images of people may not be Foley personnel.

This blog is made available by Foley & Lardner LLP (“Foley” or “the Firm”) for informational purposes only. It is not meant to convey the Firm’s legal position on behalf of any client, nor is it intended to convey specific legal advice. Any opinions expressed in this article do not necessarily reflect the views of Foley & Lardner LLP, its partners, or its clients. Accordingly, do not act upon this information without seeking counsel from a licensed attorney. This blog is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Communicating with Foley through this website by email, blog post, or otherwise, does not create an attorney-client relationship for any legal matter. Therefore, any communication or material you transmit to Foley through this blog, whether by email, blog post or any other manner, will not be treated as confidential or proprietary. The information on this blog is published “AS IS” and is not guaranteed to be complete, accurate, and or up-to-date. Foley makes no representations or warranties of any kind, express or implied, as to the operation or content of the site. Foley expressly disclaims all other guarantees, warranties, conditions and representations of any kind, either express or implied, whether arising under any statute, law, commercial use or otherwise, including implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Foley or any of its partners, officers, employees, agents or affiliates be liable, directly or indirectly, under any theory of law (contract, tort, negligence or otherwise), to you or anyone else, for any claims, losses or damages, direct, indirect special, incidental, punitive or consequential, resulting from or occasioned by the creation, use of or reliance on this site (including information and other content) or any third party websites or the information, resources or material accessed through any such websites. In some jurisdictions, the contents of this blog may be considered Attorney Advertising. If applicable, please note that prior results do not guarantee a similar outcome.