ASX-listed AI marketing technology company XPON Technologies Group has agreed to sell Alpha Digital back to its founder, Matthew Cooper, just 13 months after acquiring it – with Cooper saying the pressure to rush AI adoption into every corner of the business ultimately made the split inevitable.
He’s also bought it for a steal, paying a tidy $776 for the business he founded.
XPON today announced on 3 June 2026 that it has entered into a binding agreement to divest 100% of its shares in Alpha Digital Design Consultants to Coopers Shield Pty Ltd, a company associated with Cooper.
Completion is expected in June 2026, subject to conditions precedent.
“There have been disappointing moments along the way,” Cooper told Mediaweek.
“There were some great improvements that came to the business, but then there was a hell of a lot of governance and that put a lot of pressure on the business and our ways of working.”
A deal built on debt forgiveness
In lieu of a traditional sale price, both sides agreed to wipe the slate clean on debts owed to each other, totalling approximately $2.4 million, with XPON receiving just $776.29 for the shares.
Bonus payments that Cooper had stood to earn based on the agency’s future financial performance were also scrapped as part of the deal.
Cooper said the split was amicable and that the two parties had simply arrived at different conclusions about where AI fits in a services business.
“They gave me the opportunity to buy the company back, and we’ve left on good terms, and they are pursuing a more AI-driven focused business, whereas we have discovered that you can’t just push AI into every element of a business,” he said.
“You’ve got to be very picky and choosy where you use it and make sure that it’s trustworthy with lots of testing and your client’s, you know, consent and permission.”
Matt Cooper, Chairman and Co-founder of Alpha Digital & Springboard Digital. Image: LinkedIn
Strategic reset for XPON
Following a strategic review, XPON’s board concluded that Alpha Digital’s services-led model is “not the optimal fit within XPON’s portfolio at this stage of the Company’s development.”
The divestment leaves XPON with two remaining operations: its Wondaris AI Marketing Platform and its Google Reseller business.
The exit is a meaningful one.
For the first half of FY2026, Alpha Digital accounted for 35% of XPON’s revenue and 27% of the group’s asset valuation as of 31 December 2025.
Cooper said the pressure to accelerate AI adoption – without adequate testing or client consent – was a key fault line.
“It can’t be rushed, and there was a lot of pressure to rush things,” he said.
“It just became obvious all of a sudden that it wasn’t in our best interest to continue working together.”
Back at the wheel
All existing Alpha Digital employees will remain with the business.
There are no changes to XPON’s board or senior management. XPON said it will provide a further update on its strategic priorities in due course.
For Cooper, the buyback represents a return to the independence he has always valued.
“I’m extremely confident about the future because the best thing about being an independent operator is the ability to make change, be agile, test, trial, pivot one way, and then pivot another way,” he said.
“It’s something that I’ve always loved about running an agency… everything has been constantly changing. But it’s exciting to be at the steering wheel of the speedboat again.”