Sinch AB (publ): Sinch expands to India through acquisition of ACL Mobile


Sinch AB (publ): Sinch expands to India through acquisition of ACL Mobile

15 Jun, 2020

New Delhi: Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, has entered into a definitive agreement to acquire ACL Mobile Limited

Sweden's Sinch To Buy ACL Mobile For Rs 535 Crore

 

Founded in 2000, ACL Mobile is a leading provider of cloud communications services in India and Southeast Asia. Its platform enables businesses to interact with their customers through multiple channels including SMS, voice, email, IP messaging, and WhatsApp. The company serves more than 500 enterprise customers and is particularly successful in the Banking and Financial Services industry, where ACL’s proprietary Axiom platform offers intelligent routing and granular access controls that specifically caters to the stringent security requirements of demanding financial institutions. Leading financial institutions who rely on ACL technology include HDFC Bank, ICICI Bank, Kotak and IndusInd Bank. Customers in other segments include a wide range of businesses such as Amway, Flipkart, MakeMyTrip and OLX. The company employs 288 people with headquarters in Delhi and overseas offices in Dubai (UAE) and Kuala Lumpur (Malaysia).

"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", comments Sinch CEO, Oscar Werner.

Sinch has forged a strategy to grow the company through both organic and inorganic means. A long-term focus on profitability and cash flow makes Sinch well placed to continue and execute this strategy also in times when overall macroeconomic conditions are unfavorable.

India is the world’s second largest mobile market with a population exceeding 1.3 billion. It is a fast-growing, mobile-first economy that benefits from rapid digitalization and rising smartphone penetration. Economic growth and government initiatives for greater digital inclusion is also driving increased use of financial services, a development that fuels demand for transaction notifications via SMS.

Beyond exposure to a vast and expansive domestic market, the acquisition of ACL Mobile also adds further reach to Sinch’s global Tier 1 Super Network. Sinch can leverage ACL’s direct connections to mobile operators in India, Malaysia and UAE and offer end-to-end connectivity, without unnecessary middlemen, to demanding global businesses around the world.

“Together with Sinch we are scaling up to become one of the leading global players in our industry. I’m excited about this next chapter and the many new opportunities that we can pursue together”, comments Sanjay K Goyal, Founder and CEO of ACL Mobile.

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 30 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.

About ACL Mobile

ACL Mobile is a leading communications platform provider to businesses in Southeast Asia. Our platform enables large and leading enterprises to engage their customers over multiple channels including SMS, voice, email, IP messaging and WhatsApp. Since the inception in 2000, we have been developing our technical infrastructure to help businesses reach their customers swiftly, securely and cost-effectively. Our communications platforms boast the lowest latency in the industry and handles billions of interactions each month.

Important information

This communication may contain certain forward-looking statements. Such statements are all statements that do not relate to historical facts and include expressions such as "believe", "estimate", "anticipate", "expect", "assume", "predict", "intend", "may", "presuppose", "should" or similar. The forward-looking statements in this release are based on various estimates and assumptions that in several cases are based on additional assumptions. Although Sinch believes these assumptions were reasonable when made, such forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that are difficult or impossible to predict and that are beyond Sinch's control. Such risks, uncertainties and important factors could cause the actual results to differ materially from the results expressly or implicitly indicated in this communication through the forward-looking statements. The information, perceptions and the forward-looking statements in this release apply only as of the date of this release and may change without notice.

This information is information that Sinch AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 07:30 CEST on June 15, 2020.