Route Mobile Ltd enters into the Kingdom of Saudi Arabia with CITC License Win

Route Mobile Limited ("Route Mobile"), a leading CPaaS (Communication Platform as a Service) provider to enterprises, OTT players, and mobile network operators, has already expanded its footprint into the Kingdom of Saudi Arabia (KSA) as a Limited Liability Company. The company will open a local sales office in Riyadh and operate as Route Mobile Arabia Telecom Limited, further strengthening its presence in addition to the UAE and Kuwait market.

Route Mobile has also obtained the "CITC License" from Saudi Arabia's Communications and Information Technology Commission (CITC), which is responsible for regulating the information and communication technology sector in KSA. This license is mandatory for any company or a technology provider to conduct a local SMS business; it is mandated to host local platforms in the country to ensure all the data is stored locally and meets the region's data security guidelines.

"We are extremely grateful to the Ministry of Investment of Saudi Arabia for awarding us the license to operate in the KSA. We expect around 1.5 billion SMS volume to pass through our local platform in the KSA. Considering the scale and size of the CPaaS market, we intend to hire more employees which will include the young talented Saudi nationals who will enable us to add tremendous value to our new Riyadh operations," said Rajdipkumar Gupta, Managing Director & Group CEO, Route Mobile.

KSA is the largest and fastest-growing market in the Gulf Cooperation Council (GCC) region, with a population of almost 34 million people with nearly 85% being urban. With this development, Route mobile will offer its entire CPaaS product portfolio including A2P SMS to enterprise clients and the Small and Medium Businesses market in the Kingdom.

Sharad Thukral, EVP & Business Head - MEA, Route Mobile LLC said, "Using our best-in-class technology and domain expertise, we will enhance the customer experience through omnichannel communication like SMS, email, WhatsApp, and in-app notifications. This will enable enterprises and brands in the GGC region to deepen their customer engagement in a seamless manner, offer a rich conversational experience and help them build a loyal customer base."

Shares of ROUTE MOBILE LIMITED was last trading in BSE at Rs. 1323.15 as compared to the previous close of Rs. 1313.70. The total number of shares traded during the day was 4239 in over 599 trades.

The stock hit an intraday high of Rs. 1338.00 and intraday low of 1312.95. The net turnover during the day was Rs. 5615127.00.

Source : Equity Bulls

Keywords

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