Sydney, Australia, Feb 2023 - Symbio Holdings Limited (ASX:SYM), a voice communications software provider, has completed the acquisition of Intrado Australia's Cisco-focused end-to-end Cloud Calling, Contact Centre, and Collaboration business, providing services to key partners and Enterprise & Government customers in Australia. Intrado Australia is a subsidiary of West Technology Group, LLC (formerly known as Intrado Corporation) which is a cloud-based global technology business. Acquiring this customer base and employees will supercharge the growth of Symbio's UCaaS business.
Commenting on the acquisition, Symbio's CEO and Co-Founder, Rene Sugo said: "Acquiring these unified communications customers aligns with our strategy to grow market share and continue to build new partner channels in our home market as well as the strategic direction of our UCaaS business. It also contributes to our vision of having 100 million numbers on our network by 2030. Our strong balance sheet allows us to fund this acquisition as an all-cash consideration.
Symbio's UCaaS division CEO Iain Falshaw added: "This acquisition is significant for the UCaaS division. The additional 60,000 seats we are set to acquire doubles the size of the existing business, which helps us to build our critical mass quickly and build scale efficiently through an enhanced partner channel. In a competitive talent environment, we are also pleased that as part of the deal, over 20 employees in highly specialised sales and technical roles, will immediately join the Symbio team and we are looking forward to having them onboard."
Posted by Veronica Silva Cusi, the news correspondent
About Symbio Networks:
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. Headquartered in Sydney, Symbio powers calls and messages in three countries and employs over 450 staff worldwide.
Intrado Corporation is a cloud-based, global technology partner to clients around the world. Our solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight. Intrado has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America, and South America. Intrado is controlled by affiliates of certain funds managed by Apollo Global Management, Inc. (NYSE: APO).
Published: Tuesday, February 7, 2023
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