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    Pendula to enter acquisition fray for Whispir

    Digital communications specialist Whispir (ASX:WSP) has received a letter of intent (LOI) from customer engagement platform Pendula for a potential acquisition offer.

    The letter of intent outlines Pendula’s proposition of a non-binding, indicative offer that will be at a premium to the bid price under Soprano Design Technology’s previously announced offer of $0.48 per Whispir share.

    Pendula states in the LOI that it intends to offer to acquire Whispir’s shares via a scheme of arrangement or complete an acquisition of Whispir’s main undertaking, or a combination of these 2 acquisition structures.

    Whispir, which has a market capitalisation of $66 million, says the consideration proposed to be offered by Pendula is expected to be either all-cash or a combination of cash and scrip.

    The company’s board is currently considering the terms of the LOI and says it will continue to provide updates in due course.

    Subsequent to today’s (5 December) announcement, Whispir’s share price increased by 8.16% to $0.53 as of 12:45pm AEDT.

    Pendula has undertaken preliminary due diligence on the Whispir business. The company expects to submit its proposal as an alternative offer to Soprano’s offer by 8 December 2023.

    On 6 November 2023, Soprano proposed an off-market takeover for all Whispir shares in which Soprano does not have a relevant interest.

    Whispir is a global communications intelligence company that supplies a no-code communications-as-a-service (CaaS) platform that enables seamless omnichannel interactions between organisations, their systems, and people to solve common challenges in terms of compliance, deliverability, and engagement across more than 60 countries.

    Images: Whispir
    Aaliyah Rogan
    Aaliyah Rogan
    Recently relocated from a small town in New Zealand to Queensland Australia, Aaliyah Rogan is a fervent journalist who recently completed a Communications/Media degree at Otago University. Aaliyah hopes to excel as a journalist and become an inspiration to others.