The operator of the Yellow and White Pages, True Local and Wheris has been acquired from Telstra by a US-based software company for $250 million.
Thryv closed the deal today, acquiring the Sensis business from Platinum Equity and Telstra (ASX: TLS), marking the Dallas-based company's entry into the Australian market.
The acquisition will see Thryv add more than 100,000 customers to its base, with the software as a service (SaaS) company to assist Australian small businesses with its cloud-based solution.
"This is a transformational acquisition for Thryv, and one that will help Australian small businesses better compete in a digital economy," Thryv CEO and president Joe Walsh (pictured) said.
"Solutions that ensure SMBs have the tools they need to generate confidence and convenience for their customers have gone from a 'nice to have' to a 'must have' in this post-pandemic world."
"The acquisition of Sensis follows our strategy of expanding internationally where small businesses are ready to modernise their operations in order to serve their customers faster and more efficiently."
Sensis' brands add to Thryv's flagship software as a service (SaaS) product, which enables SMBs to accept appointments, build digital customer lists, email and text customers, send reminders and notifications, deliver estimates, and more.
Sensis CEO John Allan will lead Thryv's Australian operations and report to Walsh.
He said the acquisition will make sense for Sensis' customers, with the two companies organisationally aligned.
"Our organisations share a similar heritage through our profitable Yellow and White Page brands, which we will continue to develop," Allan said.
"Both organisations aim to be the primary partner of SMBs by helping them establish, grow and run their day-to-day business activities from their mobile phone.
"We also look forward to our continued partnership with Telstra, which will include continuing to provide them with the services they need to meet their regulatory obligations."
Shares in TLS are down 0.79 per cent to $3.12 per share at 1.08pm AEDT.Never miss a news update, subscribe here. Follow us on LinkedIn, Instagram and Twitter.
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