CallN owns and operates an Australian-headquartered call recording business, that provides an on-premise call recording solution with storage in the cloud.
Under the terms of a binding agreement, Dubber (ASX:DUB) will acquire all of the issued capital of CallN payable by the issue of approximately 1,066,096 Dubber fully paid ordinary shares and $35,000 in cash - of which 75% will be paid once the transaction is completed.
The agreement is scheduled to be completed at the end of May.
Dubber CEO Steve McGovern said, “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”.
“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.
“An opportunity to acquire CallN presented itself as it 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, as well as existing relationships with some of the channel teams with partnering Service Providers.”