Family Zone (ASX:FZO) - Managing Director, Tim Levy
Managing Director, Tim Levy
Source: Tim Levy/LinkedIn
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Family Zone (FZO) pays the remaining amount to purchase UK-based digital safety solutions company Smoothwall
  • Last month, the company completed the purchase, but a deferred payment of £10.5 million (nearly A$20 million) still remained
  • This has now been paid by Family Zone, following a recent retail entitlement issue
  • Family Zone says the integration is well underway and is running smoothly
  • On the market today, Family Zone is up 0.68 per cent and is trading at 74.5 cents per share

Family Zone (FZO) have paid the remaining amount to purchase UK-based digital safety solutions company, Smoothwall.

Last month, the company completed the purchase, but a deferred payment of £10.5 million (nearly A$20 million) still remained.

This has now been paid by Family Zone, following the retail entitlement issue.

Smoothwall provides K-12 digital safety solutions for more than six million students and 12,400 schools.

Family Zone said the integration with Smoothwall is well underway with a short-term emphasis on maintaining market momentum.

Marketing and business development strategies are currently being developed for the upselling and cross selling opportunties within the combined group.

“Following completion of the acquisition and engagement with the Smoothwall team, the company has been extremely pleased with the dedication and passion shown by the Smoothwall team to ensure a smooth transition into the Family Zone Group as well as their commitment to our underlying mission to protect every child’s digital journey,” the company said.

On the market today, Family Zone was up 0.68 per cent and is trading at 74.5 cents per share at 1.36 pm AEST.

FZO by the numbers
More From The Market Herald
X2M Connect (ASX:X2M) - Chief Operating Officer, Keith Jelley

" X2M Connect (ASX:X2M) signs two service contracts in South Korea

X2M Connect (ASX:X2M) has secured two new Software-as-a-Service (SaaS) and maintenance contracts with Gochang County and…

" Strategic Elements (ASX:SOR) sees increase in Battery Ink electrical charge

Strategic Elements (ASX:SOR) announces a significant improvement in the performance of its prototype Battery Ink cells.
LiveTiles (ASX:LVT) - Co founders, Karl Redenbach (left) and Peter Nguyen Brown (right)

" LiveTiles (ASX:LVT) grows revenue in December quarter

In the December quarter, LiveTiles (ASX:LVT) increased operating revenue by 32 per cent year-on-year to $26.7…
Harvest Technology Group (ASX:HTG) - Managing Director, Paul Guilfoyle

" Harvest Technology Group (ASX:HTG) joins Inmarsat’s marine network

Harvest technology Group (ASX:HTG) pens a deal with Inmarsat Global to become a member of its…