Swoop Holdings divested its wholesale voice business to Pivotel Group. The transaction, valued at $9 million in cash, is expected to be completed by July 1.

The sale includes the entire share capital of Voicehub Group and Harbourtel, both of which operate Swoop's wholesale voice call termination business.

"The proceeds of this transaction will provide additional balance sheet flexibility as well as being used to fund growth in our residential infrastructure, mobile and NBN sales engine," Swoop CEO Alex West said.

As part of the agreement, Swoop has secured a 5-year contract with Pivotel to maintain wholesale rates and cost structures.