Fast-growing Swedish cloud communication services provider Sinch said on Wednesday it had agreed to buy mobile messaging solutions company MessageMedia in a deal that values the company at $1.3 billion.
Sinch will pay $1.1 billion in cash and 1,128,487 new shares for MessageMedia, which is headquartered in Australia, it said in a statement.
MessageMedia is a provider of mobile messaging solutions for small and medium-sized companies in the United States, Australia, New Zealand and Europe.
Sinch said sellers include funds managed by Mercury Capital and it expected to close the deal in the second half of 2021.
Source: Reuters.com