Symbio attracts takeover interest from Aussie Broadband and Superloop
Proactive Investors
Published Oct 16, 2023 13:17
Updated Oct 16, 2023 15:01
Symbio attracts takeover interest from Aussie Broadband and Superloop
Symbio, a software group specialising in VOIP technology, becomes a coveted acquisition target for Aussie Broadband and Superloop as they aim to diversify their service offerings.
Smaller telecom operators, Aussie Broadband and Superloop, are increasingly encroaching on the market share of Australia's telecom giants.
Their latest move involves acquisition bids for Sydney-based Symbio. Superloop initiated the bidding in August with a valuation of $2.91 per share.
However, Aussie Broadband upped the ante in September, offering $3.15 per share, which values Symbio at $217 million.
Ambitious growth plans
Symbio's core business involves communication platform as a service (CPaaS), routing voice calls for leading tech firms such as Google (NASDAQ:GOOGL), Zoom, and telecom giants like Vodafone (LON:VOD). In addition to CPaaS, the company also provides white label services and bundled communication packages for larger entities.
The acquisition interest highlights the ambitious growth plans of Aussie Broadband and Superloop as they vie for a more significant market share.
Both companies have previously made acquisitions to bolster their portfolios. Aussie Broadband's ongoing due diligence could lead to a firm offer, which Symbio has committed to recommend to its shareholders.
Analysts offer varied opinions on the prospective acquisition's financial implications for Aussie Broadband. Superloop, while currently on the sidelines, could reconsider its position depending on the outcome of the due diligence process.
Read more on Proactive Investors AU
Disclaimer
Get The App
Written By: Proactive Investors
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.