Swoop Holdings Limited (AU:SWP) has released an update.
Swoop Holdings Limited has successfully sold its wholesale voice business to Pivotel for $8 million upfront, with an additional $1 million subject to the unit’s performance. The sale is based on a multiple of the unit’s past EBITDA and is expected to strengthen Swoop’s balance sheet and support expansion in its core areas of operation. Additionally, Swoop has secured a five-year contract with Pivotel to ensure stability in wholesale rates and cost structure.
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