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An announcement from Scout Security Ltd. ( (AU:SCT) ) is now available.
Scout Security Ltd has announced a merger with New York-based Roo Inc, a DIY home security technology company, in a strategic move to enhance its global security-as-a-service business. This acquisition is expected to create a diversified and scalable platform by combining Roo’s 900,000 users and 29,000 paying subscribers with Scout’s existing operations, aiming for a positive EBITDA and cash flow position. The merger will also expand Scout’s international presence and recurring revenue base, positioning the company for potential market revaluation and further growth opportunities.
More about Scout Security Ltd.
Scout Security Ltd is a company operating in the security-as-a-service industry, offering a white label platform and product suite that generates recurring revenue for major security, internet service, and telecommunications providers globally.
Technical Sentiment Signal: Sell
Current Market Cap: A$1.63M
Learn more about SCT stock on TipRanks’ Stock Analysis page.