Based on the $17m raise they did in March, the valuation of Strongroom AI was ~$70m so just that Australia (or ANZ) business would be more than the entire MC of MDR
The articles also indicate that the recurring revenues for that business was ~$13m at the end of FY2024 (which is less than MDR's ANZ revenues BTW), but that revenue was growing quite significantly and the funds raised were for overseas expansion
What is alleged is that perhaps that $13m was not all revenues, and that the business was either losing money or had significant debts which may not have been fully disclosed to the people they raised funds from.
I do think there are synagies there, but based on MDRs current MC and challenging revenue situation (in the US), MDR does not seem to be in a position to buy whatever business strongroom had, but perhaps there are some deep pocketed investors that may look at the combined StrongRoom + MDR ANZ and make a bid for those 2 businesses.......I saw an article that seems to indicate that debt owed by Strongroom had been transferred to a new entity so perhaps they are cleaning up their books for a potential sale of whatever asset is viable.
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