Platinum exits Australia's Sensis to US strategic

Platinum acquired a 70% stake in the company in 2014 from local communications giant Telstra for about A$454 million ($354 million), then about $407 million. Telstra retained a 30% position.

The buyer, US business software provider Thryv Holdings, will pay $200 million in cash for 100% of Sensis. The plan is to leverage Sensis’ 100,000-strong corporate client base to bring Thryv’s cloud-based systems to Australia’s small to medium business (SMB) sector in time for a post-pandemic recovery.

“This is a transformational acquisition for Thryv, and one that will help Australian small businesses better compete in a digital economy,” Thryv CEO Joe Walsh, said in a statement. “COVID-19 has radically reshaped the perspective of small businesses around the globe. 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.”

Under Platinum’s ownership, Sensis has repositioned itself from primarily a print phone directory provider to a more diversified digital marketing business. Services include search engine marketing and optimization and website production, as well as social, data, and mapping services.

“The company embraced the business transformation necessary to succeed in a rapidly evolving market and today Sensis is a nimble, multi-channel marketing business and an outstanding opportunity for Thryv’s international expansion,” said Adam Cooper, a managing director at Platinum. “We have great respect for the Australian market and will continue to seek opportunities to invest in the region.”

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• Topics
• Australasia
• Exits
• Trade sale
• Media
• Technology
• Australia
• Platinum Equity
• SME