Proximus Opal hikes stake in Route Mobile to 82.70%

Route Mobile has now become a part of the Proximus Group, a provider of digital services and communication solutions operating in Belgium and international markets, through a strategic acquisition by the latter.

In July 2023, Proximus Group signed a definitive agreement with the founding shareholders of Route Mobile to acquire 57.56% of Route Mobile through Proximus Opal for Rs 5924.4 crore (EUR 643.0 million) cash consideration, which corresponds to a price per share of Rs 1,626.404. Some of the founding shareholders of Route Mobile subsequently committed to reinvest EUR 299.6 million in Proximus Opal, resulting in a stake of 12.72%, expected to be completed in the next few weeks.

Over the past years, Proximus Group already built up a significant presence in the CPaaS and digital identity markets. The complementary expertise and global reach of Route Mobile (a leader in CPaaS) and their US-based affiliate - Telesign (leader in Digital Identity), will allow to reap the benefits of scale, accelerate growth as a truly worldwide group and generate shareholder value.

Following receipt of regulatory clearances and finalization of the MTO process, the transaction has been completed on 09 May 2024. The MTO stake, coupled with the shares acquired from the founding shareholders, brings the total shareholding of Proximus Opal in Route Mobile to 82.70%.

With this acquisition, Route Mobile has now become part of the Proximus Group, which becomes one of the world's largest CPaaS players by messaging volume. This is a strategic direction for Route Mobile, which will help in entering mature markets like the USA and Europe, expanding product portfolio and unlocking identified synergies with Telesign.

Rajdip Gupta will continue as the Managing Director & Group CEO of Route Mobile and will also spearhead the CPaaS business, globally.

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