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MNF Group Ltd (ASX:MNF) Enters Binding Agreement with Vonex Limited (VN8.AX)


MNF Group Ltd (ASX:MNF) Enters Binding Agreement with Vonex Limited (VN8.AX)
  
FRA:M2S) today announced that it has entered a binding agreement with Vonex (VN8.AX) for the sale of part of its Direct business.
The Company announced it had signed a conditional term sheet with Vonex on 7 June 2021, to sell part of its Direct Business for $31 million. All conditions have been satisfied, including detailed due diligence and the Company has now signed a binding agreement with completion set for early August.
The divestment of these direct businesses is in line with MNF s strategy to simplify the business and drive growth in its CPaas and UCaas voice services. Funds from the sale will be reinvested into the growing wholesale business and expansion offshore. ....

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