U.S.-based Aura Consolidated Group to acquire Australia-listed Qoria at an implied valuation of A$972 million and relist the merged entity on the Australian stock exchange. Aura to purchase all of Qoria at A$0.72 per share, more than double the stock’s last close, with a market capitalization of A$453.7 million.

After the deal, Qoria will become a unit of Aura and the combined entity will trade on the Australian stock exchange with the ticker symbol AXQ. The combined group will be valued at A$3 billion, creating a significant scale and diversified business likely to be included in ASX100.

Qoria, previously known as Family Zone, offers cyber security solutions for schools and families, with a platform used by 32,000 schools supporting 9 million parents. Aura provides online safety solutions to individuals and families. The merger would create an online security platform for home, work, and school.

Aura received commitments to raise $75 million from existing shareholders at an expected price of A$12.38 per AXQ share. In 2024, Qoria rejected a $307 million takeover offer from K1 Investment Management LLC, deeming it undervalued. ($1 = 1.4386 Australian dollars)

Read more at Yahoo Finance: US firm Aura to buy Australia’s Qoria in $675 million deal, relist on ASX