Australian digital safety company Qoria Limited (ASX: QOR) is set to delist from the ASX next Monday after completing its $1.7 billion merger with US-based Aura Consolidated Group, Inc.
Qoria's delisting on 20 July brings to an end the five-month merger process, first announced in February, with the combined group continuing to trade on the ASX under the new ticker AXQ following Aura's listing on the Australian market earlier this month.
Through the merger, Qoria has become a wholly owned subsidiary of Aura which raised about $145 million for its ASX listing, although the shares have lost around 30 per cent of their value since then.
Aura's shares were trading $1 lower at $4.43 at 11.36am (AEST), valuing the group at just over $1 billion.
“Aura and Qoria are both mission-driven companies," says Hari Ravichandran, founder and CEO of Aura, following completion of the merger today.
"We exist to empower people of all ages to not only stay safe, but thrive in a fully connected world.
“Together, we will accelerate our shared vision for an end-to-end, AI-first model that helps proactively protect users across the environments that matter most – home, school and work.”
Under the scheme of arrangement, Qoria shareholders received one Aura CDI (CHESS Depositary Interest) for every 17.32 Qoria shares held, with total scheme consideration of 81.28 million CDIs.
The deal was overwhelmingly backed by shareholders earlier this year, with 92.54 per cent of votes cast in favour and 91.49 per cent of shareholders present and voting supporting the scheme.
The merger was originally announced with a pre-money equity value of $3 billion for the combined business, based on an implied placement price of 72c per Qoria share.
However, global equity market volatility and a broader technology sector de-rating prompted a repricing of Aura's accompanying capital raise, with the placement price revised down to 40c per Qoria share - equivalent to US$4.77 ($6.93) per Aura CDI.
The merger brings together Qoria's family and education-focused digital safety products with Aura's consumer identity and privacy protection platform.
The combined group reported proforma annual recurring revenue of US$316 million at 31 December 2025, with the board forecasting annual recurring revenue growth exceeding 20 per cent in calendar year 2026.
Qoria managing director Tim Levy said at the time of the merger announcement that the deal would pioneer "a lifelong digital safety ecosystem", while Aura's Ravichandran said the combined group would deliver "holistic online safety to everyone".
The merged entity will operate across consumer, family and enterprise digital safety segments, with Aura's existing US subscriber base complementing Qoria's installed presence in schools and households across Australia, the United Kingdom and the United States.
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