Swoop Holdings Targets Vonex Acquisition for Growth

Vonex Limited (AU:VN8) has released an update.

Swoop Holdings Limited has announced its intention to acquire all remaining shares of Vonex Limited, offering a share swap deal that values Vonex shares at a 14% premium compared to a recent cash offer. This strategic acquisition aims to create a stronger, more competitive entity with potential synergies boosting annual EBITDA by over $5 million. Interested shareholders could benefit from the enhanced scale and investment appeal of the combined business, projected to generate approximately $137 million in revenue for FY24.

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