Sinch AB , a global leader in cloud communications for mobile customer engagement, announces that the board of directors, in accordance with what was communicated on 7 December 2021, has resolved on an in-kind share issue of 25.5 million shares to the sellers of Pathwire.
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On 30 September 2021, Sinch disclosed that it had entered into an agreement to acquire Pathwire and the acquisition was completed on 7 December 2021. In addition to the cash consideration, Sinch shall issue an aggregate of 51 million shares in the Company as consideration to the sellers, of which the first 25.5 million shares were issued in February 2022. The board of directors has today resolved to issue the remaining 25.5 million of these shares. The payment of the shares consists of a receivable, under the agreement for the acquisition of Pathwire, against two of the company’s subsidiaries. The contributed receivable amounts to the remaining USD 500 million (with the initial USD 500 million part of the receivable contributed in the February share issue) of the receivable’s total initial value of USD 1 billion (equivalent to a subscription price of SEK 171.21), determined in accordance with the agreement for the acquisition of Pathwire.
Sinch’s leading cloud communications platform lets businesses reach everyone on the planet, in seconds or less, through mobile messaging, email, voice and video. More than 150,000 businesses, including many of the world’s largest companies and mobile operators, use Sinch’s advanced technology platform to engage with their customers. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 60 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.
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