SYDNEY, AUSTRALIA: Swoop Holdings Limited has agreed to acquire VoiceHub Group and Harbourtel Pty Ltd (together, Voicehub). The purchase price for the acquisition is up to $8.5 million.
The consideration comprises $4 million payable in cash on completion; $2 million to be satisfied by the issue of fully paid ordinary shares of Swoop and up to $2.5 million based on the EBITDA of Voicehub for FY2022.
The consideration shares to be issued at completion will be issued from Swoop’s existing placement capacity.
Completion of the acquisition will occur on 31 October 2021 or on the later satisfaction (or waiver) of the conditions precedent.
VoiceHub provides wholesale voice services including traditional voice services, unified communications, virtual numbers, SMS messaging solutions and Advanced Intelligent Networking, and operates in Australia and New Zealand.
Swoop CEO, Alex West stated, “Acquiring VoiceHub’s network provides another opportunity for Swoop to further expand the range of services we can offer across our growing client base in Australia.
Voicehub has invested significantly in upgrading operations and automation technology; and gives us a strong springboard for continued growth in this market.
We look forward to the opportunities this acquisition provides in establishing strong voice services capability across our business brand where unified voice and conference collaboration tools are becoming increasingly important to run any business, whilst also providing further infrastructure to support our large partner channel.”
Bonitz Advisory is acting as Swoop’s M&A adviser on this transaction, Maddocks is acting as legal adviser and PKF as tax adviser.
Swoop is a national provider of fixed wireless internet services to wholesale, business and residential customers. The Swoop network is designed and scaled to deliver ultra-reliable, high throughput, flexible telecom network services. Swoop is established and has the goal to build its business to become Australia’s best challenger internet and telecommunications provider.
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