Sinch to Pay $1.3 Billion for MessageMedia to Target SME Market
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Sinch AB, a Swedish cloud-based platform provider that counts SoftBank Group Corp. among its biggest investors, has agreed to acquire MessageMedia Inc. in a deal it says will expand its reach among small and medium-sized businesses.
Sinch, which is based in Stockholm, will pay a total enterprise value of $1.3 billion, it said on Wednesday. It said $1.1 billion to be paid in cash, and the rest in new shares in Sinch. Part of the deal will also be debt financed, it said.