Select the directory option from the above "Directory" header!

Menu
Soprano Design eyes $63M Whispir acquisition

Soprano Design eyes $63M Whispir acquisition

Priced at $0.48 per share.

Credit: ID 2442423 © Robyn Mackenzie | Dreamstime.com

Australian communications platform-as-a-service (CPaaS) vendor Soprano Design has put forward an off-market takeover bid to purchase Whispir for approximately $63 million.

The deal price is placed at $0.48 per Whispir share. With 130,972,560 shares on issue, this places the total price for the software-as-a-service (SaaS) communications workflow platform at $62,866,828.80.

Soprano announced to the Australian Securities Exchange (ASX) that the deal is unconditional, with the exception of a prescribed occurrences condition.

As of the time of the announcement, Soprano owns 15 per cent of Whispir shares and intends to vote in favour of its own acquisition attempt if a competing proposal comes.

Additionally, Soprano said it has appointed Jarden Australia as its broker to acquire Whispir shares on the market at or below its offer price and as its financial adviser, while Herbert Smith Freehills is acting as its legal adviser.

This is the latest acquisition announcement for Soprano, coming years after it acquired CPaaS player Silverstreet in December 2020 to expand its reach in Singapore and Malaysia.

Meanwhile, in March this year, Whispir was caught in the collapse of the failed Silicon Valley Bank, with it having US$173,679 (A$263,922) on deposit at the time.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Whispirsoprano design

Show Comments