Communications software firm in $53m acquisition
Listed cloud communications software and solutions provider IMImobile has conditionally agreed to acquire US firm 3CInteractive Corp.
London-based IMImobile has moved to acquire the cloud-based multichannel, customer engagement platform company for a total consideration of $53.2 million (£42.8m).
In 2018 3C’s core services generated revenues of $24.2m and gross profit of $15.7m. It is expected to be EBITDA break-even this year.
IMImobile said the acquisition provides it with an opportunity to establish a global leadership position in the ‘Rich Communication Services’ market and further strengthen its position in North America, the largest addressable market for its software.
“We are delighted to announce the acquisition of 3C. It is a business with deep relationships with blue chip customers and the major US mobile operator networks as well being a pioneer in developing RCS as a channel for customer engagement,” said Jay Patel, group CEO of IMImobile.
“The acquisition will provide an opportunity to introduce the group’s core Enterprise CPaaS capabilities and suite of customer engagement products into the US, which is our largest addressable market.
“We also hope to consolidate our strategic leadership position in introducing new communication channels to our clients and partners worldwide.”