Once worth more than $500 million, the cloud-communications tech company could change hands for just $63 million.
Private equity-backed Soprano Design, a communications software company run by ex-Appen chief executive Mark Brayan, wants to take ASX minnow Whispir private in a $62.9 million deal.
Soprano’s adviser, investment bank Jarden, was acquiring Whispir shares at 48¢ on Monday morning, after building up a 15 per cent stake in block trades over the weekend.two major Whispir shareholders – Forager Funds Management and Spheria Asset Management – sold their entire stakes to Soprano as part of the takeover bid.Whispir’s other substantial shareholders include AustralianSuper and outgoing chief executive Jeromy Wells . AustralianSuper reduced its stake from 7.
And last month, Whispir raised $3.25 million via a private placement at 25¢ a share to shore up its balance sheet and announced MrSoprano’s founder and chairman, Richard Favero, said the cash offer provides certainty for Whispir shareholders “in the face of poor operational and financial metrics”.
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