BICS Group acquires telephony startup MOBTexting
MOBTexting has agreed to be acquired by BICS Singapore, a subsidiary of the international communications enabler BICS, for an undisclosed amount.
Communications Platform as a Service (CPaaS) (3m Digital Networks) has agreed to be acquired by BICS Singapore, a 100 percent subsidiary of the international communications enabler BICS, for an undisclosed amount. The deal is subject to customary closing conditions.
This deal will enable MOBtexting to enhance its current offering by capitalising on BICS’ global telecommunications footprint and services. At the same time, it will accelerate BICS’ strategy to become an integrated communications platform company, incorporating MOBtexting’s suite of cloud-based omnichannel communications services and its platform into BICS’ value proposition. MOBtexting's regional presence will also help grow BICS' market share for cloud communications in the Asia Pacific region.
"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,” said Matteo Gatta, BICS Group CEO.
MOBtexting will continue to evolve its wide range of cloud-native communications solutions, including AI-enabled voice, multi-channel messaging, and advanced analytics services. Its 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.
Ajay Gupta, MOBtexting Co-founder and CEO, said, “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. 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 recognised as a Deloitte Tech Fast company for India and APAC in 2019, for combining technological innovation, entrepreneurship, and rapid growth.
Brijesh Kashyap, Co-founder and Managing Director of MOBtexting, said, “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.
Co-founder and CTO at MOBtexting, Sankar Suda added, “Together with BICS, we will expand the R&D centre 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, the global market revenue for CPaaS reached $5.9 billion in 2020 and is expected to reach $17.71 billion 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.
Edited by Saheli Sen Gupta