Proximus Group announces strategic acquisition of Route Mobile
Proximus Group, a Belgian Mobile digital communication company, is set to acquire approximately 58% of Route Mobile, an India-based firm specializing in CPaaS services.
The acquisition will take place through Proximus Opal, a subsidiary of the Proximus Group. The deal further establishes Proximus Group as a worldwide leader in the digital communications (CPaaS) and digital identity (DI) sectors.
Route Mobile and Telesign, another Proximus affiliate, will merge to create an entity boasting a combined annual revenue of approximately EUR 900 million. This acquisition will secure Proximus Group’s position as the third-largest player globally in the CPaaS market, with an extended customer reach and portfolio. Post-acquisition, Route Mobile’s CEO, Rajdip Gupta, will lead the CPaaS activities of the Group.
The acquisition will also bolster the DI offerings of Proximus Group. The inclusion of Route Mobile’s “TruSense” skills will enhance Telesign’s capabilities in this arena. After the transaction, Joe Burton, CEO of Telesign, will continue his role, leading the DI activities of the Group.
Route Mobile’s established presence in the Indian subcontinent, Africa, Asia-Pacific, and Latin America, combined with Telesign’s presence in Europe and North America, will expand the Group’s global customer coverage to over 200 countries and territories.
The terms of the agreement outline Proximus Opal’s acquisition of a controlling stake (57.56%) in Route Mobile from the founding shareholders of the company. Some of these shareholders will then reinvest in a minority stake in Proximus Opal. The deal is subject to regulatory and anti-trust approvals and is expected to close within six to nine months. Proximus Group will finance the acquisition through bridge financing and the issuance of a new bond upon closing of the transaction.
Route Mobile provides omnichannel communication solutions to customers worldwide and has reported strong financial growth. Proximus Group’s CEO, Guillaume Boutin, referred to the acquisition as a “transformational step” for the Group’s international CPaaS and digital identity activities.