RouteSMS Solutions FZE to acquire M R Messaging FZC

RouteSms Solutions FZE, a wholly owned subsidiary of Route Mobile Limited ("Route Mobile"), one of the leading CPaaS (Communication Platform as a Service) provider to enterprises, over-the-top ("OTT") players and mobile network operators, today signed definitive agreements to acquire M.R Messaging FZC ("M.R Messaging/MRM"), one of the leading Cloud communications service provider catering to enterprises and aggregators in Europe & South Africa. The acquisition is aligned to Route Mobile's global growth strategy and strengthens its global presence as a CPaaS leader.

MRM offers CPaaS solutions including A2P messaging, number lookup and 2-way messaging to enterprises as well as aggregators, using its technology platform. They have offices in the U.A.E, Malta and South Africa and have fostered best in class partnerships that allows them to ensure a superior quality of service to brands & enterprises.

Rajdipkumar Gupta, Managing Director and Group CEO, Route Mobile Limited, said, "M.R Messaging presents Route Mobile a significant opportunity to foray and compete in new markets. This opportunity enables us to offer brands & enterprises a global network with local presence in Europe and South Africa, delivering a superior customer experience at scale." He further added, "We have always aimed to gain a bigger foothold globally. After Latin America, we wanted to strengthen our presence in Europe & South Africa and M.R Messaging is just the right fit."

We welcome Robin Sullivan and the entire team of M.R Messaging that now will be a part of Route Mobile group to jointly create massive strides in CPaaS, market synergies and further strengthen our global presence.

Robin Sullivan, CEO & Founder of M.R Messaging FZC, said, "We are immensely thrilled to join hands with one of the leading CPaaS player like Route Mobile. This opportunity enables us to expand our product & services capabilities backed with solid tech-led communications transformation expertise in Europe & South Africa."

Subject to the fulfillment of customary terms and conditions of the definitive agreements, the acquisition is expected to be completed by March 31, 2022.

Shares of ROUTE MOBILE LIMITED was last trading in BSE at Rs. 1804.60 as compared to the previous close of Rs. 1834.15. The total number of shares traded during the day was 9736 in over 797 trades.

The stock hit an intraday high of Rs. 1838.05 and intraday low of 1794.00. The net turnover during the day was Rs. 17599464.00.

Source : Equity Bulls

Keywords

ROUTEMOBILE INE450U01017 RouteSMSSolutionsFZE Acquisition MRMessagingFZC Europe SouthAfrica