Hot on the heels of their $1.1 billion share issue raise, Stockholm’s Sinch has announced its intention to acquire the Melbourne-based firm MessageMedia for $1.1 billion in cash and 1,128,487 new shares in Sinch. The transaction is expected to close in H2 of this year.
Founded in 1999 by Grant Rule, MessageMedia is a SaaS offering that makes it easy to leverage two-way messaging without any need for coding or familiarity with APIs. Specifically targeting SME’s MessageMedia serves over 60,000 customers, and sees over 5 billion messages passing through its gates annually.
“Addressing small and medium-sized businesses opens up a new avenue to growth and dramatically expands our addressable market. With MessageMedia as a part of Sinch, we will have the best team in the industry to capitalize on that opportunity”, comments Oscar Werner, Sinch CEO.
This acquisition seeks firmly in what we’ve seen to be Sinch’s growth strategy, buy one, raise another round, buy another. Clearly, the Omnichannel wars are heating up, MessageBird, Twilio, your move.