Sinch AB, a global leader in cloud communications for mobile customer engagement, announces that the acquisition of MessengerPeople has been completed.
MessengerPeople offers a cloud-based software suite that makes it easy for businesses to engage with their customers via messaging apps like WhatsApp, Telegram and Apple Business Chat (iMessage). The company has more than 700 business customers and around 40 employees. Sinch announced that it had entered into a definitive agreement to acquire the company on September 22, 2021.
“With its easy-to-use software, the team at MessengerPeople has shown how businesses can use interactive messaging services to create a better customer experience. I am very pleased that we have now completed the acquisition and look forward to continuing our expansion together,” said Oscar Werner, CEO Sinch.
With the transaction closed, MessengerPeople will be part of the Sinch’s Messaging segment. The press release from September 22, 2021, a webcast and an accompanying slide deck, are available in the Reports and Presentation section on investors.sinch.com.
Sinch has paid a total enterprise value of EUR 48 million, with a total cash consideration of EUR 33.6 million and EUR 14.4 million paid in the form of 835,677 new shares in Sinch. The board of directors has today resolved to issue the 835,677 at a subscription price of SEK 171.78 per share (equivalent to the volume weighed average price of the Sinch share during a measurement period from and including 15 October 2021 up to and including 28 October 2021). The total number of shares in Sinch AB has thereby increased to 746,999,041 and the share capital has increased by SEK 8,356.77 to SEK 7,469,990.41. Using the EUR/SEK exchange rate at the end of the measurement period of 9.969, the payments correspond to an enterprise value of SEK 622 million. The sellers have, subject to customary undertakings, entered into lock-up undertakings to not sell or otherwise dispose of the economic rights to the shares for a period of 12 months from today (in respect of certain sellers, 24 months).
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.
Visit MessengerPeople at https://www.messengerpeople.com/