Route Mobile rose 1.61% to Rs 1634.75 after the company said that it will acquire Phonon Communications (Phonon), a communications automation platform provider, for Rs 29 crore.
Phonon Communications is engaged in the business of providing telecommunication value added solutions including Audiotex services, Voice Mail services, Computer Telephony Integration (CTI), hosted Interactive Voice Response (IVR) services. SMS systems, audio conferencing. visual IVR (iDelivr) and contact centre automation products and services and associated solutions.
The acquisition allows Route Mobile to leverage Phonon's supercharged customer experience platform and enable brands to deliver personalized experiences across digital touchpoints.
Phono offers a complete suite of conversational AI-driven contact centre solutions with integration on cloud platforms like AWS, Azure, and Google Cloud.
The Global contact center as a service (CCaaS) market is on the rise as enterprises lean towards digital transformation by incorporating artificial intelligence, machine learning, and conversational analytics for enhanced customer engagement.
Phonon's solutions are used by a roster of leading global brands like Citibank, HDFC Bank, Yes Bank, HDFC Life Insurance Co., Royal Sundaram General Insurance Co., Air Asia (India), GoAir, IndiGo, Vistara, Yatra, ITC Hotels and Sodexo to name a few.
Rajdipkumar Gupta, managing director and Group CEO, Route Mobile, said, I'm delighted to welcome Phonon to the Route Mobile family. This association aligns with our vision 2.0 to deliver superlative customer experiences by empowering brands and enterprises to have a deeper engagement on a scalable communications platform.
Phonon's Communication automation platform, combined with Route Mobile's suite of CX driven solutions will benefit digital brands to transform and automate their contact centre operations, offering unique digital communications experiences to their customers.
The combined Communications platform as a service (CPaaS) plus CCaaS market is expected to exceed $35 billion by 2025.
This acquisition enhances Route Mobile's capability to accelerate the digitalization journey, enabling enterprises to seamlessly adopt cloud communication solutions. Phonon.io's deep domain expertise will further strengthen Route Mobile's CXPaaS strategy with a Conversational AI-driven communication automation platform, that can help brands and enterprises deliver better service to their end customers, through enhanced engagement on multiple channels, including mobile apps, websites, and social media platforms.
Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO).
Route Mobile's consolidated net profit surged to Rs 102.40% to Rs 37.99 crore on a 45.68% increase in net sales to Rs 384.84 crore in Q3 FY21 over Q3 FY20.
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