Proximus buys 58% stake in Route Mobile for EUR 643 mn

Proximus Group announced that Proximus Opal will buy 57.56 percent stake in Route Mobile, a global company specialized in CPaaS services, for EUR ∼643 million in cash.
Guillaume Boutin CEO Proximus GroupSome of the founding shareholders of Route Mobile will reinvest in a minority stake in Proximus Opal, a subsidiary of the Proximus Group and the holding company of Telesign.

Proximus will add annual revenue around EUR 900 million from Route Mobile and Telesign combined. Proximus becomes the third largest player globally based on messaging volume.

Proximus, through the strengths of Route Mobile and Telesign, aims to become one of the worldwide leaders in the fields of digital communications (CPaaS) and digital identity (DI).

Rajdip Gupta, CEO of Route Mobile, will lead Proximus’ activities in CPaaS business. Joe Burton, CEO of Telesign, will lead Proximus’ activities in digital identity business.

Run-rate EBITDA synergies realized 3 years post-closing are expected to be at least EUR 90 million, which will be realized by both Route Mobile and Telesign.