Family Zone in $145m deal for UK buy. Shaw and Partners appointed as Joint Lead Manager News02 Aug 2021

Cyber security play Family Zone is set to acquire a business in the UK and fund it with a $145 million equity raising.


The acquisition is a UK based business with $30 million in annual revenue, 6.1 million students on its platform and 12,400 schools, sources said.


It’s a big deal for Family Zone, a Perth-based cyber safety technology play with offices in Australia, New Zealand and the UK. The group had $14 million revenue, 3 million students and 5600 schools, prior to the latest acquisition.


The raising will be worth $145 million and done via a placement and rights issue.


The company’s brokers Shaw and Partners and Euroz started lining up investors to support the deal on Monday morning. Its shares last closed at 60¢ and valued the group at $262 million on a market capitalisation basis.


About Family Zone Cyber Safety

Family Zone is a technology company focused on cyber safety, specifically targeting young children, teenagers and students. The company has developed a unique platform from which cyber safety settings and support can be developed, monitored and implemented across any network or device by both schools and parents. Family Zone is on track to triple student base in FY2021 to over 2 million students, principally in the US, generating greater than $12 million in annual recurring revenue.


Article source: AFR, 2 August 2021

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