Australia-listed technology firm Qoria said on Monday that it has agreed to be acquired by U.S.-based Aura Consolidated Group in a transaction that values the company at an implied A$972 million ($675.64 million). Under the proposal, Aura will acquire all outstanding shares of Qoria and subsequently relist the combined entity on the Australian Securities Exchange.
The offer values Qoria shares at an implied price of A$0.72 per share, more than double the company’s most recent closing price. According to LSEG data, Qoria currently has a market capitalisation of A$453.7 million.
Upon completion of the transaction, Qoria will operate as a unit of the Boston-headquartered Aura, with the merged business expected to trade on the Australian stock exchange under the ticker symbol AXQ. Qoria’s board has recommended that shareholders vote in favour of the deal.
The companies said the combined group would have a valuation of approximately A$3 billion before any external funding or equity raising. As part of the transaction, the Australian firm plans to raise $75 million at an expected issue price of A$12.38 per AXQ share.
Qoria, which was founded in 2015 and was previously known as Family Zone, provides online safety, digital wellbeing, and cybersecurity solutions for schools and families. According to information on its website, the company’s platform is currently used by 32,000 schools and supports around 9 million parents.
Aura is a provider of online safety solutions for individuals and families. If the merger proceeds, the combination is expected to create an online security platform spanning home, workplace, and educational environments.
Qoria’s share price performance has been volatile in recent months. In October last year, the company’s shares rose nearly 10% to an eight-year high of A$0.94 following an upbeat annual revenue forecast. Since that peak, the stock has declined by more than 64%.
In 2024, Qoria rejected a $307 million takeover proposal from venture capital firm K1 Investment Management, LLC, stating at the time that the offer undervalued the company.
