Image credits: Sinch
Based out of Stockholm, Sinch provides cloud-based “omnichannel” voice, video, and messaging services to help enterprises communicate with customers.
Raised €929M
Recently, the cloud-based platform raised SEK 9.4 billion (approx €929M/$1.1B) from investors including Temasek and SoftBank Management. The Swedish company directed the issue of 7,232,077 new shares at SEK 1,300 per share.
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The company is currently trading on the Swedish stock exchange Nasdaq Stockholm with a market cap of around $11B (approx €8.9B).
Sinch intends to use the proceeds to strengthen the company’s financial position after the announced acquisition of Inteliquent and to increase the company’s flexibility for new acquisitions.
Advisors
The company has engaged Carnegie, Danske Bank, Handelsbanken Capital Markets, JP Morgan, and SEB as Joint Bookrunners. Moelis & Company UK LLP has acted as financial advisor to the Company.
Acquisitions
Earlier this year, Sinch acquired Inteliquent, the largest independent voice communications provider in the United States, for a total cash consideration of $1.140B (approx €932M). This marks the company’s fifth acquisition in the past two years.
Inteliquent powers voice communications for the leading communication service providers and enterprises in North America.
The transaction broadens Sinch’s Communications Platform as a Service (CPaaS) offering and provides the company a leadership position in US voice communications.
Last year, SoftBank acquired a 10.1 per cent stake in the company for $690M (approx €571M) through its subsidiary, SB Management. Last year, the company acquired SAP Digital Interconnect for £198M (approx €217M), Wavy for £98M (approx €107M), Chatlayer for £4M (approx €4.3M), and ACL mobile for £56M (approx €61.4M).
Cloud communications platform
Founded by Henrik Sandell, Johan Hedberg, Kjell Arvidsson, Kristian Männik, and Robert Gerstmann in 2008, Sinch offers a cloud communications platform that lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice, and video.
Leader in the IDC MarketScape
Earlier this month, the company announced that it has been recognised as a Leader in the IDC MarketScape: Worldwide Communications Platform-as-a-Service (“CPaaS”) 2021 Vendor Assessment.
Profitable since 2008, Sinch has a local presence in more than 40 countries.
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