, the Communications Platform as a Service (CPaaS) specialist, today announces it has agreed to be acquired by Singapore, a 100 percent subsidiary of the international communications enabler , for an undisclosed amount.
With the deal, MOBtexting will substantially enhance its current offering by capitalizing on BICS' global telecommunications footprint and services. At the same time, the acquisition will accelerate BICS' strategy to become a communications platform company, incorporating MOBtexting's suite of cloud-based omnichannel communications services and its platform into BICS' value proposition.
MOBtexting will continue to evolve its wide range of cloud-native communications solutions, including AI-enabled voice, multi-channel messaging and advanced analytics services. MOBtexting's technology will augment BICS' API-based communications and leverage its vast cloud numbers reach in more than 200 countries, combined with its industry leading SIP-Trunking, and high-quality global voice and messaging coverage.
"By joining the BICS Group, we can develop new use cases which build on our respective strengths, allowing us to seize new growth opportunities as companies around the world accelerate their digital transformation strategies," said Ajay Gupta, MOBtexting Co-Founder & CEO. "Being based in Asia, we have a competitive advantage to deliver these services in a large and digitally-driven market, while leveraging BICS' global footprint to serve as a differentiator."
Serving over 500 customers and carrying more than three billion messages each year, MOBtexting was recognized as a Deloitte Tech Fast company for India and APAC in 2019, for combining technological innovation, entrepreneurship, and rapid growth.
Brijesh Kashyap, Co-Founder & Managing Director of MOBtexting commented: "Our passion is helping businesses achieve unified communications through multichannel customer centricity. In joining hands with BICS, we will be able to service our customers in more meaningful ways, with trusted global reach and services."
The move signals an important value proposition towards both the telecommunications and enterprise markets, with the ambition to provide new Software-as-a-Service (SaaS) solutions to support businesses in their digital transformation. Powered by a state-of-the-art public cloud-based communications platform, the deal will empower businesses to easily build and configure a full suite of digital communication services to engage their customers and enhance the customer experience.
"This acquisition fast-tracks BICS' vision to become an integrated communications platform company, combining our global reach with software-based applications for a seamless user experience. With these new capabilities, we can offer our customers around the world a broader set of tools to quickly and more effectively engage their customers, objects and applications through the power of digital communications," explained Matteo Gatta, BICS Group CEO.
Co-Founder and CTO at MOBtexting, Sankar Suda, added, "Together with BICS, we will expand the R&D center in India and build state-of-the-art software centric solutions to enable our customers with enhanced tools and capabilities."
BICS' Cloud Communications portfolio serves three distinct digital use cases: customer engagement, customer support and collaboration.
According to IDC, global market revenue for CPaaS reached USD 5.9bn in 2020 and is expected to reach USD 17.71bn by 2024. The Synergy Research Group reported APAC as the fastest growing CPaaS market in the world, registering 55 percent year-over-year growth in Q2 2021.
The deal is subject to customary closing conditions.
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( With inputs from ANI )
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