Route Mobile to acquire Latin American firm for $47.50 mln

Route Mobile (UK), a wholly owned subsidiary of Route Mobile, has signed definitive agreements to acquire Latin America-based Masivian.

The company will acquire 100% equity stake in Masivian for a total purchase consideration of $47,500,000, along with an earn-out consideration of upto $2,500,000. The acquisition is expected to be completed within the next 60 days.

Masivian is a cloud communications platform service provider, with strong presence in Colombia and Peru. Masiv offers multichannel notification services through SMS, OTT business messaging, email, as well as voice. Masiv platform orchestrate and automate A2P messaging and multichannel conversations for marketing and operations.

The acquisition is aligned to Route Mobile’s global growth strategy to be a recognized global CPaaS (communications platform as a service) player and to solidify its presence in Latin America. The acquisition will help expand the company’s business in new markets – particularly Colombia and Peru, and further expand across the Latin American market over the near term. The acquisition will also unlock cross-sell opportunities for the company to offer its comprehensive suite of CPaaS solutions (email, RCS, OTT business messaging, etc.) to the Masivian’s existing client base.

“Masiv presents a sizable opportunity that can be tapped from local enterprises as well as with global OTT’s, leveraging its added geographical strengths like direct connectivity, cost efficiencies and local presence in the Andean region,” Route Mobile said in a statement.

Masiv, primarily based in Colombia and Peru, also presents an excellent near-shore talent pool and operational hub for supporting customers in the Americas, it added.

In the year ended 31 December 2020, Masivian reported revenue of $11.53 million and profit after tax of $1.59 million.

Route Mobile’s consolidated net profit jumped 27.4% to Rs 34.32 crore on 21.9% increase in net sales to Rs 377.52 crore in Q1 June 2021 over Q1 June 2020.

Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO). RML’s portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics, and monetization. The company is headquartered in Mumbai, India with a global presence in the Asia Pacific, Middle East, Africa, Europe, and North America.

Shares of Route Mobile jumped 3.04% to settle at Rs 2114.70 on Friday.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">html</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>


%d bloggers like this: