The company will acquire 100% equity stake in Masivian for a total purchase consideration of $47,500,000, along with an earn-out consideration of upto $2,500,000. The acquisition is expected to be completed within the next 60 days.

Masivian is a cloud communications platform service provider, with strong presence in Colombia and Peru. Masiv offers multichannel notification services through SMS, OTT business messaging, email, as well as voice. Masiv platform orchestrate and automate A2P messaging and multichannel conversations for marketing and operations.

The acquisition is aligned to Route Mobile's global growth strategy to be a recognized global CPaaS (communications platform as a service) player and to solidify its presence in Latin America. The acquisition will help expand the company's business in new markets – particularly Colombia and Peru, and further expand across the Latin American market over the near term. The acquisition will also unlock cross-sell opportunities for the company to offer its comprehensive suite of CPaaS solutions (email, RCS, OTT business messaging, etc.) to the Masivian's existing client base.

"Masiv presents a sizable opportunity that can be tapped from local enterprises as well as with global OTT's, leveraging its added geographical strengths like direct connectivity, cost efficiencies and local presence in the Andean region," Route Mobile said in a statement.

Masiv, primarily based in Colombia and Peru, also presents an excellent near-shore talent pool and operational hub for supporting customers in the Americas, it added.

In the year ended 31 December 2020, Masivian reported revenue of $11.53 million and profit after tax of $1.59 million.

Route Mobile's consolidated net profit jumped 27.4% to Rs 34.32 crore on 21.9% increase in net sales to Rs 377.52 crore in Q1 June 2021 over Q1 June 2020.

Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO). RML's portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics, and monetization. The company is headquartered in Mumbai, India with a global presence in the Asia Pacific, Middle East, Africa, Europe, and North America.

Shares of Route Mobile jumped 3.04% to settle at Rs 2114.70 on Friday.