Family Zone to acquire Spanish global parental control leader Qustodio
- Family Zone to acquire global leader in parental controls Qustodio for US$52 million.
- The merger of the Qustodio business into the Family Zone group will significantly expand the company's capability and global footprint.
- The transaction is subject to approval from Spanish Foreign Direct Investment, the raising of capital by Family Zone, and Family Zone shareholder approval of the issue of securities to the vendors.
LOS ANGELES, May 3, 2022 /PRNewswire/ -- Qustodio and Family Zone today announced a definitive agreement under which Family Zone will acquire 100% of the shares in Qustodio and its subsidiaries in a transaction valued at US$52 million.
Based in Barcelona, Spain, Qustodio was founded by Eduardo Cruz, Josep Gaspar, and Josh Gabel in 2012. Today Qustodio is a global leader in family online safety, operating in eight languages to over 4 million users in more than 180 countries. Its channel partners are among the world's leading telecom operators in countries such as Spain, France, Singapore, Mexico, Japan, Brazil and Chile.
Qustodio's cross-platform solution allows parents and educators to protect children from online harm, while also promoting healthy digital habits and awareness. Its next generation tools help manage and balance screen time, block harmful content, and promote healthier online activity, allowing families and educators alike to build a safe, secure digital experience for every child.
The merger of the two companies will bring accelerated growth through scale and product expansion.
"The bringing together of Qustodio and Family Zone will be seen in time as a turning point in online safety globally. We are honored and excited to be welcoming the Qustodio team into our family". - Tim Levy, Managing Director Family Zone
"Qustodio and Family Zone share the view of a better world where schools, parents and children can work together to create safe and enriching online experiences. This shared vision has led us to unite forces and bring game-changing unified approaches in online safety to the market. Our combination will represent the creation of a truly global leader in online safety with unmatched scale and capabilities." - Eduardo Cruz, Co-founder & CEO Qustodio
The proposed transaction is subject to customary closing conditions, including the receipt of regulatory approval in Spain.
About Qustodio
Qustodio is the world leader in online safety and digital wellbeing for families. Since 2012, we have provided a cross-platform solution for families and schools, helping over 4 million parents and educators protect children from online harm, while promoting healthy digital habits and awareness. Available in over 180 countries in 8 languages, our digital wellbeing tools help families and schools live and navigate smarter in an increasingly connected world.
To learn more about Qustodio please visit www.qustodio.com
About Family Zone
Family Zone, supporting and protecting every child's digital journey, is an ASX-listed technology company and an emerging leader in the fast growing global cyber safety industry. Family Zone's unique innovation is its patented cyber safety ecosystem, a platform enabling a world-first collaboration between schools, parents and cyber safety educators. Family Zone's unique approach is delivering rapid growth in the education sector, as well as through direct sales and scalable reseller arrangements with telco providers.
To learn more about the Family Zone platform and the company please visit www.familyzone.com
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