An 'offer period' has now commenced
Marketing automation platform Smoove has confirmed that it is in early-stage takeover talks with Australian-founded fintech provider PEXA Group about a possible cash offer.
The online property platform stressed that discussions with PEXA remain at an early stage and that there can be no certainty that an offer will be made for the company, nor as to the terms on which an offer may be made.
An ‘offer period’ has now commenced and PEXA must, by end of business day on May 22, either announce a firm intention to make an offer for the company.
PEXA, which claims to operate the world’s first digital property exchange platform, was founded in 2010 and was listed on the Australian Stock Exchange in 2021. It launched in the UK last year, establishing its inaugural UK board in August 2022.
Weeks later, it announced that it had agreed to acquire British remortgage processing firm Optima Legal from Capita PLC to support its growth plans in the UK digital conveyancing market. Its remortgage offering was launched with the Hinckley & Rugby Building Society and conveyancing firm Muve, with Shawbrook Bank following soon after.
Smoove was formerly known as ULS Technology. Its group of platforms, which consist of eConveyancer, DigitalMove, Legal Eye, and Amity Law, aim to provide an end-to-end, digitally empowered home moving experience.
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