Qoria (ASX:QOR), the Perth-based pioneer in digital safety, is on the verge of a transformative merger with US technology firm Aura Consolidated Group, a move set to propel the Australian company’s valuation toward the $1 billion mark.
The Perth developer, formerly known as Family Zone, entered a voluntary trading halt on Feb. 2 pending a formal announcement regarding the "control transaction" and an associated capital raising.
While Qoria’s shares recently cooled to 33.5 cents, reports suggest the scrip-based deal could value the company at 72 cents per share—a staggering 115% premium over its last closing price.
Founded by CEO Tim Levy to combat device addiction and online risks, Qoria has evolved from a local startup into a global powerhouse.
Its software now protects over nine million parents and 32,000 schools across 100 countries, with a particularly dominant footprint in the US and UK markets.
The company’s financial trajectory supports this high-stakes merger; recent quarterly data revealed record receipts of $33.8 million and annual recurring revenue approaching $150 million.
The potential tie-up follows a period of intense sector interest, coming after Qoria rejected a 40 cent-a-share bid from K1 Investment Management last year.