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Dubber Acquires Leading UK Mobile Recording Company Speik

·8 min read

MELBOURNE, Australia, Dec. 22, 2020 A$38 million performance-based acquisition payable in two parts accelerates Dubber's revenue growth, increases consolidated bottom line and broadens Dubber compliance offerings

Key highlights:

  • Speik supports O2's mobile recording service: Increases Dubber's UK footprint

  • Speik provides PCI Compliance solutions with UK Carriers: Enriches Dubber's solution portfolio as leader in Unified Call Recording, Compliance, secure voice data management

  • Speik has annual revenue of circa £7m (circa A$12.4m): Growing month-on-month

  • Speik is profitable: Enhancing Dubber's consolidated bottom line

  • Accretive Fundamentals: Service provider and solution footprint, technology synergies and lean operating structure expected to contribute to revenue growth

  • Scrip and cash consideration with earn-out: Over half the consideration subject to a 16-month performance based earn-out to incentivise performance and preserve Dubber's strong cash position

  • Attractive acquisition multiple: Efficient addition of revenue, service provider networks and subscribers that increases Dubber's market-leading position

  • Key shareholder support: All key management shareholders retained in the business with incentives to continue strong performance

/PRNewswire/ -- Dubber Corporation Limited (ASX: DUB) (Dubber), the global leader in Unified Call Recording & Voice Intelligence today announced it has acquired Speik - a leading UK-based provider of call recording and PCI Compliance solutions.

(PRNewsfoto/Dubber)
(PRNewsfoto/Dubber)

The acquisition furthers Dubber's vision of dubbing the world's networks and communications solutions to put AI on every phone, transforming voice data into a source of value for Enterprises and Governments globally.

Speik was formed in 2019 through a merger of Aeriandi Ltd (Aeriandi) and Voxygen Ltd (Voxygen). Voxygen had been supplying a hardware-based recording platform to Telefonica UK Limited (O2), one of the UK's leading networks, and Aeriandi had been providing PCI compliance solutions in conjunction with leading UK service providers including Vodafone and Gamma. Speik is headquartered in Oxford and has 38 employees in the UK and Europe.

Speik will continue to operate as an independent division within the Dubber group, serving existing and future customers with its current product portfolio as supplemented by Dubber solutions.

Steve McGovern, CEO, Dubber on the Speik acquisition:

"Dubber's acquisition of Speik is fundamentally accretive on all levels. Speik brings to Dubber a strong footprint in the leading UK-based mobile network provider, world-class technology resources, and a growing base of subscribers.

The team at Speik has been a pioneer in terms of network-based mobile recording together with O2.

Their success with one recording partner over seven years provides an insight into Dubber's ambitions for its own 130-plus service provider partners, globally.

The Dubber product suite has a capability to expand Speik's revenue opportunities with O2 - and other service providers - from its current enterprise focus into the larger addressable markets of mobile SME and across unified communications (UC) and Microsoft Teams services with Unified Call Recording.

We believe that Dubber can substantially accelerate growth and adoption in that and other key UK-based relationships while using Speik's PCI services to drive additional revenues with our service provider partners. We welcome the Speik team to our growing Dubber family and look forward to serving our mutual customers like never before."

James Slaney, Co- Founder & COO, Dubber:

"Dubber and Speik have complementary products that are easily integrated. We will bring significant benefits to Speik's existing customers by making the entire Dubber solution set available to them - and assist Speik in winning new customers by enhancing their offerings with the scale and power of Dubber's cloud platform and technology."

Sergio Budkin, Director of Business Products and Propositions, Telefonica UK Ltd (O2):

"Together with Speik, O2 has been providing mobile recording services in the UK, enabling compliance, improved customer experience and productivity gains for Enterprises and Government. We welcome the opportunity to expand those services via Dubber's industry-leading offering across multiple sectors and delivery platforms."

Matthew Townend, Executive Director, Cavell on the Speik Acquisition:

"Service and Solution Providers are in a race to achieve differentiation and answer the accelerating compliance, security and productivity demands of Enterprises. Dubber with Speik will build on Dubber's already industry-leading offering for service and solution providers and deep capability in addressing compliance and call recording needs within SME's and Enterprises."

Matthew Bryars, Founder and Vice Chairman, Speik:

"Dubber is the clear category leader in Unified Call Recording and we are excited to join the team - accelerating our growth, delivering richer solutions to Service and Solution providers, and unlocking the power of voice data for Government and Enterprises. Together we offer an unmatched capability in Unified Call Recording across any endpoint. I want to recognise and thank the Speik team for the tremendous effort put in over several years. Today opens a new chapter in our journey that I couldn't be more excited about."

Transaction Summary:

Key Acquisition Terms:

About Aeriandi and the Sellers

Aeriandi is a small proprietary company with numerous selling shareholders at completion, comprising:

None of these sellers are related parties of Dubber.

Strategic Rationale

Financial Impact

This announcement has been approved for release to ASX by Steve McGovern, CEO & Managing Director.

About Dubber:
Dubber is unlocking the potential of voice data from any call or conversation. Dubber is the world's most scalable Unified Call Recording service and Voice Intelligence Cloud adopted as core network infrastructure by multiple global leading telecommunications carriers in North America, Europe and Asia Pacific. Dubber allows service providers to offer call recording for compliance, business intelligence, sentiment analysis, AI and more on any phone. Dubber is a disruptive innovator in the multi-billion-dollar call recording industry, its Software as a Service offering removes the need for on-premise hardware, applications or costly and limited storage.

About Cavell:
Cavell is a leading Analyst and Consulting company and acted as a key advisor to Dubber for this acquisition.

For more information, please contact:

Investors: Simon Hinsley
simon.hinsley@dubber.net
+61 (0) 401 809 653

AU & NZ Media: Terry Alberstein
terry@navigatecommunication.com.au
+61 (0) 458 484 921

UK Media: James Taylor | The PR Network
+44 (0)7796 138291
james.taylor@thepr.network

US Media:
Charlie Guyer, Guyer Group for Dubber
+1.617.599.8830
charlie@guyergroup.com

SOURCE Dubber