Under the proposed deal, Aura will acquire all outstanding shares of Qoria at an implied price of A$0.72 per share, representing more than double the company’s last closing price. The offer comes at a time when Qoria’s shares have been under significant pressure, having declined more than 40% so far this year. Based on LSEG data, the company currently has a market capitalisation of A$453.7 million.
Commenting on the valuation, Opal Capital Management founder and chief investment officer Omkar Joshi noted that the premium appears elevated largely because of the stock’s recent weakness. He said Qoria’s share price struggles in 2026 have amplified the headline premium compared with where the stock traded last year.
Following completion of the transaction, Qoria will operate as a unit of Boston-headquartered Aura, with the newly combined entity set to relist on the Australian Securities Exchange under the ticker symbol AXQ. Qoria’s board has unanimously recommended that shareholders vote in favour of the deal.
The companies said the merged group would have a combined valuation of approximately A$3 billion before any external funding. Ron Shamgar, head of Australian equities at TAMIM Asset Management, described the combined business as being of “significant scale and diversified,” adding that it could be on a path toward inclusion in the ASX100 over time.
As part of the transaction, Qoria plans to raise $75 million at an expected price of A$12.38 per AXQ share to support future growth initiatives.
Qoria, formerly known as Family Zone, provides cyber security and online safety solutions tailored for schools and families. According to its website, its platform is currently used by about 32,000 schools and supports more than 9 million parents. Aura, meanwhile, offers online safety solutions for individuals and families, and the merger would create an integrated platform covering online security needs across home, work, and educational environments.
The agreement follows Qoria’s decision in 2024 to reject a $307 million takeover bid from venture capital firm K1 Investment Management LLC, which the company said at the time significantly undervalued its business.