Swoop acquires comms service providers VoiceHub, Harbourtel for $6 million

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Swoop acquires comms service providers VoiceHub, Harbourtel for $6 million

ASX-listed fixed wireless and wholesale network infrastructure provider Swoop has acquired Sydney-based wholesale voice services provider Voicehub Group for $6 million.

Voicehub Group, through its brands VoiceHub and Harbourtel, specialises in traditional voice services, unified communications, virtual numbers, SMS messaging solutions and advanced intelligent networking services for clients across Australia and New Zealand.

Harbourtel is the traditional telco side of the business, providing direct inward dialling (DID), toll-free (1800), local rate (13 or 1300), premium rate and digital phone numbers to Australians, delivered through Session Initiation Protocol (SIP). It also offers DID, premium rate and toll-free (0800) numbers for its New Zealand customers. Additional offerings include internet connectivity, meet-me conferencing, media streaming and call forwarding.

VoiceHub has a more diverse offering, including inbound services, call termination, virtual phone numbers, hosted voice, SMS, SIP Trunk and connectivity and Microsoft Teams voice calling.

The acquisition comes off the heels of Swoop recently completing a $41 million capital raise, issuing 22 million new shares at $1.85 per share to fund some planned acquisitions and finance some recently announced ones.

Voicehub Group is Swoop’s fifth acquisition since going public in May 2021, after Beam Internet, Speedweb, Community Communications (ComComs) and Countrytell.

“Acquiring VoiceHub’s network provides another opportunity for Swoop to further expand the range of services we can offer across our growing client base in Australia,” Swoop chief executive Alex West said.

“Voicehub has invested significantly in upgrading operations and automation technology and gives us a strong springboard for continued growth in this market. We look forward to the opportunities this acquisition provides in establishing strong voice services capability across our business brand where unified voice and conference collaboration tools are becoming increasingly important to run any business, whilst also providing further infrastructure to support our large partner channel.”

The $6 million price tag includes $4 million in cash and $2 million in Swoop shares, and would also add an extra $2.5 million earn-out based on Voicehub’s EBITDA for FY2022. Swoop said the purchase price also represents a 4 times multiple of VoiceHub’s normalised EBITDA for the 2021 financial year.

The acquisition is set to be finalised on 31 October 2021.

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