Aussie Broadband has made a binding offer worth up to $258 million to buy software group Symbio as the telecommunications group. Symbio is considered to be a pioneer of voice over internet protocol (VOIP) in Australia. Aussie Broadband already provides VOIP services but wants to expand further into voice communications.
Aussie Broadband has made a binding offer worth up to $258 million to buy software group Symbio as the telecommunications group Aussie Broadband said on Monday that it had made a cash and stock offer for Symbio via a scheme of arrangement after completing almost a month of due diligence.The offer is open for acceptance by Symbio ’s board until midnight on Tuesday. Symbio ’s board said it was considering the offer.
Symbio provides phone numbers and routes voice calls for big technology companies including Zoom, Google, Twilio and Cisco, and telecoms companies such as Vodafone and Orange. Aussie Broadband already provides VOIP services but wants to expand further into voice communications. It has also been snapping up internet broadband subscribers,Aussie Broadband will pay between $2.21 and $2.26 in cash and 0.192 Aussie Broadband shares for every Symbio share.
Aussie Broadband Symbio Acquisition Telecommunications VOIP Voice Over Internet Protocol Software Group
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