Infobip Acquires OpenMarket
Cloud communications platform provider Infobip has acquired OpenMarket, a mobile messaging provider, for $300 million. The transaction, which comes less than three months after Infobip's $200 million investment round, underlines Infobip's aggressive growth strategy globally and within North America.
The resulting company will bring together complementary regional footprints, merging OpenMarket's scale in the United States with Infobip's strengths in every other regions to process more than 12 billion combined monthly customer interactions across communication channels.
"This transaction marks a significant leap forward in our journey toward exponential growth. Combined, customer bases of Infobip and OpenMarket are some of the world's most impressive enterprises, and we are now truly able to meet their needs in every region globally with best-in-class direct connectivity and a comprehensive portfolio of cloud-based messaging or SaaS offerings," said Silvio Kuti, CEO of Infobip, in a statement. "We look forward to demonstrating the value of this combination to each of our customers over time. I'm also thrilled that the OpenMarket team will become part of our Infobip family. They've built a great and rapidly growing business, but we also know we all share a common vision and values. It's a truly exciting time for us all in both companies, and, as we say at Infobip, we are just starting."