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Vonex Limited ( (AU:VN8) ) has shared an announcement.
Vonex Limited has announced that MaxoTel, a leading VoIP and telephony solutions provider in Australia, has secured a finance agreement with Westpac to fund the acquisition of Vonex shares through a court-approved scheme of arrangement. The Vonex Board recommends shareholders vote in favor of the scheme, provided no superior proposal emerges and the Independent Expert deems it beneficial for shareholders. This agreement marks a significant step in Vonex’s strategic growth and industry positioning, potentially enhancing its market presence and operational capabilities.
More about Vonex Limited
Vonex Limited is a full-service telecommunications provider offering mobile, internet, traditional fixed lines, infrastructure solutions, and hosted PBX and VoIP services, primarily to small to medium enterprises. The company also develops new telecommunications technologies, including a cloud-hosted PBX system, and provides wholesale services to internet service providers. Vonex is focused on a disciplined M&A growth strategy targeting profitable IT and telco businesses for product expansion and cross-selling opportunities.
Average Trading Volume: 265,042
Technical Sentiment Signal: Buy
Current Market Cap: A$27.09M
Find detailed analytics on VN8 stock on TipRanks’ Stock Analysis page.