Spenda Streamlines Operations with Strategic AU$1.8 Million Asset Sale.
Spenda Limited (ASX: SPX) has entered into an agreement to sell its Spenda Ledger platform to APG Pay Pty Ltd in a deal valued at around AU$1.8 million. The move forms part of the company’s ongoing strategy to simplify operations, lower expenses, and sharpen its focus on core commercial products already generating revenue.
The transaction is expected to reduce annual operating costs by approximately AU$2.7 million, while contributing to broader savings of nearly AU$7 million achieved in recent months. Although ownership of the Ledger platform will transfer to APG, Spenda will continue servicing existing customers through a four-year licensing arrangement, allowing the company to maintain revenue exposure without managing the underlying infrastructure and staffing requirements.
The company also confirmed leadership changes as it shifts attention toward expanding Spenda Pay and Spenda Retail. Management stated that the leaner business structure is designed to improve execution speed, strengthen financial positioning, and support future growth opportunities.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Spenda Streamlines Operations with Strategic AU$1.8 Million Asset Sale.
Spenda Limited (ASX: SPX) has entered into an agreement to sell its Spenda Ledger platform to APG Pay Pty Ltd in a deal valued at around AU$1.8 million. The move forms part of the company’s ongoing strategy to simplify operations, lower expenses, and sharpen its focus on core commercial products already generating revenue.
The transaction is expected to reduce annual operating costs by approximately AU$2.7 million, while contributing to broader savings of nearly AU$7 million achieved in recent months. Although ownership of the Ledger platform will transfer to APG, Spenda will continue servicing existing customers through a four-year licensing arrangement, allowing the company to maintain revenue exposure without managing the underlying infrastructure and staffing requirements.
The company also confirmed leadership changes as it shifts attention toward expanding Spenda Pay and Spenda Retail. Management stated that the leaner business structure is designed to improve execution speed, strengthen financial positioning, and support future growth opportunities.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au