Sinch enters Brazil with $44.6m TWW acquisition
Sinch, a cloud communications provider, has entered into a definitive agreement to acquire TWW do Brasil for $44.6 million.
TWW is Brazil’s third largest connectivity provider, currently serving more than 3,000 businesses that includes some of the country’s leading enterprises in banking, retail and education.
“Sinch has won the trust of some of the world's largest enterprises through high-quality message delivery and international reach,” said Oscar Werner, CEO of Sinch. “The acquisition of TWW further strengthens this value proposition and gives us domestic presence in a rapidly expanding, dynamic growth market.”
Brazil boosts the fifth most populous country in the world and is now seeing a rapid uptake in smartphone penetration and mobile internet usage. Customer engagement through mobile messaging continues to gain popularity, and a rapid uptake of new technologies presents opportunities for Sinch to offer its broader portfolio of next-gen messaging, voice and video to TWW’s customers.
“The success of our business is built on quality delivery and an unflinching focus on customer satisfaction,“ added Anthony Pain, CEO and chairman of TWW. “Together with Sinch, we can continue our growth journey and launch new products in next-generation messaging, voice and video. Our greatest opportunities are still ahead of us.”
With Handelsbanken Capital Markets serving as financial advisor for Sinch, the transaction is expected to close in the second half of October 2019.
In February of this year, CLX Communications rebranded as Sinch, merging together products that had been sold under the CLX, Sinch, Symsoft, and Vehicle brands integrated into a unified offering of RCS, SMS, voice, video and personalised messaging services.