The Swedish cloud communication company Sinch AB announced in a press release that they have acquired French myElefant SAS for an upfront cash consideration of 18.5 million euro.
“Through advanced yet easy-to-use software, myElefant has successfully shown how next-generation messaging can drive tangible and measurable business outcomes. With myElefant as a part of Sinch, we can offer our global customer base and established ecosystem partners a sophisticated software platform, with powerful real-time analytics, that offers a step-change in customer experience”, states Oscar Werner, CEO of Sinch, in a press release.
The myElefant platform is currently used by more than 160 enterprise customers.
The Swedish communication company Sinch was, up until February 2019, called CLX Communications.
“We want our brand to expose the full width of our product portfolio”, Werner said at the time.
Sinch provides cloud-based communication services to companies and mobile operators, and through their platform they reach 5 billion mobile phones worldwide.
“We see [a] rising demand from businesses who want to use messaging to transform their customer journey. Together with Sinch, we gain the scale and reach to compete on a truly global basis,” said myElefant President and co-founder, Cyril Puget.
Puget was happy that the two companies were able to unite: “We’re excited to join forces and together pursue the market opportunities that we now see emerging”.
The transaction is expected to close in early October 2019 and, under the finalisation of the acquisition, the Swedish bank Handelsbanken Capital Markets is serving as a financial advisor to Sinch.
We believe that information should be free and will therefore never put up a paywall.
If you like reading our reports about the Scandinavian business scene and would like to donate towards the upkeep of the site, we would be very grateful. Click here to donate.