SoftBank is set to exit text marketing platform developer MessageMedia through an acquisition by another portfolio company, Sinch.
Customer engagement software developer Sinch agreed yesterday to acquire Australia-based mobile messaging platform developer MessageMedia in a $1.3bn transaction facilitating an exit for internet and telecommunications group SoftBank.
The deal consists of $1.1bn in cash, with the remainder to be supplied in the form of 1.1 million new Sinch shares. It follows reports publicly listed Sinch had raised $1.1bn from investors including SoftBank and Singaporean state-owned investment firm Temasek last month.
MessageMedia has built an online messaging platform that helps…
