- Call recording software company Dubber (DUB) has entered a binding agreement to acquire CallN
- CallN owns and operates a call recording business that provides customers with on-site call recording solutions and cloud storage
- Under this binding agreement, Dubber will obtain all of CallN’s issued capital for $1.175 million
- This figure will consist of approximately 1,066,096 Dubber shares and $35,000 in cash
- The agreement is expected to be completed by the end of the month
- Dubber is down 3.35 per cent on the market this morning and shares are trading for $1.16 each
Call recording software company Dubber (DUB) has entered a binding agreement to acquire CallN.
CallN owns and operates a call recording business that provides customers with on-site call recording solutions and cloud storage.
“We are very pleased to have taken the opportunity to acquire CallN. The company has been providing recording solutions direct to business and enterprise clients, predominantly in Australia,” CEO Steve McGovern said.
“We believe that the consolidation of the two companies will help accelerate many of those clients as they move call recording to the cloud, while still supporting their existing solutions as required,” he added.
Under this binding agreement, Dubber will obtain all of CallN’s issued capital for $1.175 million.
This figure will consist of approximately 1,066,096 Dubber shares and $35,000 in cash — of which 75 per cent will be paid once the transaction is completed.
Even though Dubber has completed due diligence investigations, the agreement still remains conditional upon the execution of ancillary documents that are required for the acquisition.
This is expected by the end of the month.
“An opportunity to acquire CallN presented itself sit was divested from a larger ownership structure and, as well as securing accretive revenue, Dubber will also benefit from procuring highly capable personnel in the CallN business with product and technical expertise,” Steve said.
Dubber is down 3.35 per cent on the market this morning and shares are trading for $1.16 each at 10:55 am AEST.