Dropsuite (ASX:DSE) received clearance from Australia's Foreign Investment Review Board for its proposed acquisition by NinjaOne Australia via a scheme of arrangement, satisfying a key condition for the deal, according to a Tuesday filing with the Australian bourse.

The deal still requires shareholder approval at a Friday meeting and final court approval, the filing said.

The company recommends that shareholders vote in favor of the proposed acquisition in the absence of a superior proposal and subject to an independent expert's assessment.

Additionally, the Australian Securities and Investments Commission granted Dropsuite an extension to hold its 2025 annual general meeting, moving the deadline to July 31 from May 31, per the filing.

Dropsuite's shares were modestly higher in recent Tuesday trade, hitting a 52-week high.