Breaking News, Latest News, World News, India News, Cricket, Videos & Photos

Sinch completes the acquisition of MessageMedia


Stockholm, Sweden – November 5, 2021 – Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, today announces that the acquisition of MessageMedia has been completed.

MessageMedia serves more than 60,000 customers and offers a web-based software-as-a-service (SaaS) suite that is purposefully tailored to meet the specific needs of small and medium-sized businesses. Sinch announced that it had entered into a definitive agreement to acquire the company on June 9, 2021.

“With its easy-to-use software MessageMedia has demonstrated how businesses can use interactive messaging services to create a better customer experience. Now that we have completed the acquisition, we have the best team in the industry to capitalize on that growth opportunity”, comments Oscar Werner, Sinch CEO.  

With the transaction closed, MessageMedia will be part of the Sinch’s Messaging segment. The press release from June 9 2021, a webcast and an accompanying slide deck, are available in the Reports and Presentation section on investors.sinch.com.

Sinch has paid the sellers a cash consideration in AUD corresponding to USD 1,100 million and will in addition issue 11,284,870 new shares in Sinch as part of the consideration. The board of directors has today resolved to issue 481,860 of these shares against set-off of an amount of SEK 70,583,375 (equivalent to a subscription price of SEK 146.48 per share), determined pursuant to the acquisition agreement for MessageMedia. The total number of shares in Sinch thereby increases to 746,645,224 (747,480,901 shares including the issue of 835,677 shares to the sellers of MessengerPeople which Sinch announced through a press release on 1 November 2021) and the share capital increases by SEK 4,818.60 to SEK 7,466,452.24 (SEK 7,474,809.01 including the share issue to the sellers of MessengerPeople). The remaining 10,803,010 shares will be issued to the sellers of MessageMedia within five months. The sellers have, subject to customary exceptions, entered into lock-up undertakings to not sell or otherwise dispose of the economic rights to the shares for a period of 6 months from today.

For further information, please contact

Thomas Heath
Chief Strategy Officer & Head of Investor Relations
Mobile: +46 722 45 50 55
E-mail: investors@sinch.com

Ola Elmeland
Investor Relations Director
Mobile: +46 721 43 34 59
E-mail: investors@sinch.com

About Sinch

Sinch brings businesses and people closer with tools enabling personal engagement. Its leading cloud communications platform lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice and video. Sinch is a trusted software provider to mobile operators, and its platform powers business-critical communications for many of the world’s largest companies. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 40 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.

This information was submitted for publication through the agency of the contact person set out above, at 07:00 CET on November 5, 2021.

Sinch AB



Source link

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

Privacy & Cookies Policy