By Manish Singh
Sinch said on Monday it has agreed to buy Indian firm ACL Mobile for £56 million (roughly $70 million) in what is the third acquisition deal the Swedish mobile voice and messaging firm has entered into at the height of a global pandemic.
The Swedish firm said acquiring ACL Mobile will enable it to leverage the Indian firm’s connections with local mobile operators in the world’s second largest internet market as well as in Malaysia, and UAE to expand its end-to-end connectivity without working with a third-party firm.
20-year-old ACL Mobile, which has headquarters in Delhi, Dubai, and Kuala Lumpur, enables businesses to interact with their customers through SMS, email, WhatsApp and other channels. In a press statement, the Indian firm said it serves more than 500 enterprise customers including Flipkart, OLX, MakeMyTrip, HDFC Bank and ICICI Bank.
“With ACL we gain critical scale in the world’s second-largest mobile market. We gain customers, expertise and technology and we further strengthen our global messaging product for discerning businesses with global needs,” said Sinch chief executive Oscar Werner.
The Indian firm, which employs 288 people, reported gross profits of $14.2 million on sales of about $65 million in the financial …read more
Source: Tech Crunch