The Belgian provider Proximus wants to take a majority stake in Route Mobile for 643 million euros. This Indian company makes cloud communication software and offers data intelligence services. Route Mobile will fall into the same industry as Telesign.
Proximus acquires 57.56 percent of the shares of this company, for 643 million euros. The Belgian company says this will enable a ‘significant increase in scale’, with a combined annual turnover of approximately 900 million euros for Route Mobile and Telesign. Proximus also claims to become the third largest player in the field of so-called communications platform-as-a-service services, based on the volume of messages.
Furthermore, Proximus will receive Proximus has a foothold in the Indian subcontinent, Africa, Asia, the Pacific and Latin America with the deal. Together with Telesign, the company is active in more than two hundred countries and territories. With the acquisition of the majority interest, Proximus is obliged to make a takeover bid for 26 percent of the total number of shares; Proximus could eventually own approximately 75 percent of Route Mobile.
Route Mobile CEO Rajdip Gupta will remain CEO of this company and will lead Proximus’ CPaaS activities. Proximus expects to complete the transaction within six to nine months. Route Mobile offers services that enable companies to add real-time communication services to their own software. Among other things, the company offers automated text messages or WhatsApp notifications, for example for order updates or appointment reminders. Route Mobile had a turnover of 427 million euros and an EBITDA profit of 55 million euros last financial year.
