Route Mobile (UK), a wholly-owned subsidiary of Route Mobile, has acquired Masivian S.A.S ("Masiv"), a cloud communication platform service provider, for $47.5 million, the company said in a statement.
Route Mobile is one of the leading cloud communication platform service providers to enterprises, over-the-top ("OTT") players, and mobile network operators. Masiv offers multichannel notification services through SMS, OTT business messaging, email and voice, serving clients across Colombia and Peru.
The payment will be made in installments wherein the first tranche will be equivalent to 63.16% of the total purchase consideration.
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The second and fourth installments, each equal to 12.28% of the total purchase consideration, will follow the completion of 12,18 and 24 months from the date of closing of the transaction.
The deal also comprises an earnest consideration of $2.5 million.
"As founders of one of the leading CPaaS players globally, a key target for us was to onboard a global partner to gain a bigger foothold in the Latin American region and address the international traffic that we're yet to tap. We intend to be actively involved in Masiv's growth and expansion of its portfolio," said Rajdipkumar Gupta, Managing Director and Group CEO, Route Mobile Limited.
"We share Route Mobile's vision to simplify communications for businesses. We are deeply committed to this vision and this relationship will enable us to further accelerate our already impressive growth trajectory in the LatAm market," said Rainer Viertel, CEO of Masiv.
Subject to fulfilment of terms and condition of the definitive agreements signed, the acquisition is expected to be closed within 60 days, the statement read further.
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