Enters Binding Agreement with Vonex
Sydney, July 23, 2021 AEST (ABN Newswire) - MNF Group Limited (
ASX:MNF) (M2S:FRA) today announced that it has entered a binding agreement with Vonex (VN8.AX) for the sale of part of its Direct business.
The Company announced it had signed a conditional term sheet with Vonex on 7 June 2021, to sell part of its Direct Business for $31 million. All conditions have been satisfied, including detailed due diligence and the Company has now signed a binding agreement with completion set for early August.
The divestment of these direct businesses is in line with MNF's strategy to simplify the business and drive growth in its CPaas and UCaas voice services. Funds from the sale will be reinvested into the growing wholesale business and expansion offshore.
Reaffirmation of Guidance
The company would like to take this opportunity to re-affirm earnings guidance of EBITDA for the 2021 financial year which is expected to be within the top half of the range provided of $40.0 million to $43.0 million.
About Symbio Holdings Limited
Symbio Holdings Limited (ASX:SYM) is a software company changing the way the world communicates.
Symbio's technology replaces old-fashioned telecom networks with software, making it faster and easier to deliver modern cloud-based communication services, unlocking endless new applications for calling, messaging and phone numbers.
Symbio is the backbone for the global cloud communication industry. Over 500 service providers - from telecom start-ups to the world's biggest software companies - rely on Symbio for the connectivity, quality and expertise they need to solve complex communication challenges.
Headquartered in Sydney, Symbio powers billions of calls and messages each year, owns networks in three countries and employs over 450 staff worldwide.
For more information about Symbio visit www.symbio.global
| ||
|
