A $119 million acquisition in Brazil will help Sinch, a provider of messaging systems to help companies engage with customers via texts, calls and video messaging on their mobile phones, broaden its Americas outreach from Atlanta.
The Stockholm, Sweden-based tech company has agreed to buy Wavy, Brazil’s second largest business messaging service with a headquarters in Sao Paulo, in a transaction paid for with a combination of cash and stock.
Sinch has more than 700 employees globally, with more than 60 in Atlanta, including CEO Oscar Werner, who is running the company from here as it expands throughout the hemisphere. Mr. Werner was unavailable for comment, but had this to say in a statement about uniting with Wavy:
“Our shared vision, greater scale and global outlook makes us uniquely well placed to succeed in the marketplace, innovate with our customers, and grow our business.”
The move deepens Sinch’s access in Brazil, Latin America’s largest market with more than 200 million people. Beyond its partnerships with 50 mobile operators in the country and its capabilities with the WhatsApp messaging service, Wavy is part of Movile, a holding company with a stable of mobile-focused enterprises that together reach a billion people with apps providing payments, food delivery, event ticketing, education, messaging and more. Movile has 20 offices in seven countries, including Mexico, Colombia, Peru, Chile, Argentina and Paraguay. It also has an outpost in Silicon Valley established in 2011.
Wavy said in a statement it is looking to “lead the next generation of conversational marketing” through its new relationship with Sinch.
“Like Sinch, we believe that messaging improves lives every day, bringing ease, and convenience, while connecting people and changing businesses,” said Eduardo Henrique, Wavy’s CEO, in a news release. “We launch solutions that serve, optimize and improve all stages of the customer journey, empowering companies to offer a superior experience to their customers.”
Founded in 2008 in Stockholm, Sinch is no stranger to acquisitions that facilitate inroads into new geographic markets. Back in 2016, while it was still known as CLX Communications, the company entered Atlanta by buying Mblox for $117 million, giving it a foothold in the fast-growing tech hub of the South. Just two weeks ago it acquired Belgian-based Chatlayer for €6.9 million (about $7.6 million), adding its artificial intelligence-powered chatbot to its suite of services.
Sinch’s platform drives 40 billion engagements a year, allowing companies to reach any mobile phone in the world within seconds.