Symbio Holdings Ltd (ASX:SYM), formerly known as MNF Group, is a software and services company specialising in voice communications. The company owns technology which is focused on replacing old-fashioned telecoms networks with modern, cloud-based communications services to unlock new applications for calling, messaging and phone numbers. Headquartered in Sydney, Symbio is profitable, with net cash in hand of more than $40m for its Asia Pacific-expansion plans and is delivering returns to shareholders through dividends. The FY22 total dividend was $0.08/share, including a special dividend of $0.03/share from the part proceeds of the disposal of its direct business. The company underwent a major restructure in FY22, selling its direct business to Vonex (ASX:VN8) to focus on its enterprise SaaS businesses which service enterprise and government (UCaaS), large corporates and software companies (CPaaS), and telcos and managed service providers (TaaS). In that process, the company changed its name to Symbio. The company has outlined that its ambitions for FY23 include acceleration of its expansion into Asia. This encompasses the development of its Malaysia network and its launching with strategic customers, achieving profitability in Singapore, and building its East Asia cloud hub, with next steps into Taiwan where the company has announced it will open service availability in 2023.
08 Nov 2022
Targeting 100m numbers on its network by 2030
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Targeting 100m numbers on its network by 2030
Symphony Environmental Technologies plc (SYM:LON) | 3.2 0 0.0% | Mkt Cap: 6.64m
- Published:
08 Nov 2022 -
Author:
Finola Burke -
Pages:
4
Symbio Holdings Ltd (ASX:SYM), formerly known as MNF Group, is a software and services company specialising in voice communications. The company owns technology which is focused on replacing old-fashioned telecoms networks with modern, cloud-based communications services to unlock new applications for calling, messaging and phone numbers. Headquartered in Sydney, Symbio is profitable, with net cash in hand of more than $40m for its Asia Pacific-expansion plans and is delivering returns to shareholders through dividends. The FY22 total dividend was $0.08/share, including a special dividend of $0.03/share from the part proceeds of the disposal of its direct business. The company underwent a major restructure in FY22, selling its direct business to Vonex (ASX:VN8) to focus on its enterprise SaaS businesses which service enterprise and government (UCaaS), large corporates and software companies (CPaaS), and telcos and managed service providers (TaaS). In that process, the company changed its name to Symbio. The company has outlined that its ambitions for FY23 include acceleration of its expansion into Asia. This encompasses the development of its Malaysia network and its launching with strategic customers, achieving profitability in Singapore, and building its East Asia cloud hub, with next steps into Taiwan where the company has announced it will open service availability in 2023.