Australia’s Sensis, the SMB marketing services and the company that owns the Yellow Pages and White Pages in the country has recently been sold to US SMB software company, Thryv Holdings, in a $260mn deal.
The deal comes 7 years after Telstra sold its 70% stake in the business to Platinum Equity, a US private equity firm, for $425mn. This means that Thryv picked up the remaining 30% stake.
The deal’s price of $260mn is a notable change from the previous price, when Telstra reported a $34mn impairment loss from their investment in Sensis, on top of an increase in total associated liabilities amounting to $95mn.
Known as one of the oldest still-operating businesses, Sensis has 200,00 customers in the AU’s small business market, providing SEO, SEM, as well as website development services and the like.
As part of the deal, Sensis CEO John Allan will remain at his post, reporting to Thryv CEO and President Joe Walsh, with Allan saying that it’s just what they needed.
Allan stated that their organizations started out similarly, handling Yellow and White Pages brands, which they note they’ll keep working on as they move forward. He says that their goal is to help out small businesses with establishing and growing their daily operations.
Recently, Allan reports, Australian businesses have been investing more in IT platforms rather than the people that work to provide things like king kong agency review, and that Thryv provides a solution to that.
Notably, Thryv already owns the US’s Yellow Pages, on top of supplies software for small-scale businesses, aimed at helping them with business operations and the like.