CLX acquires Mblox, strengthening its position as one of the global leaders in enterprise cloud communications
CLX Communications AB (publ) ("CLX") today announces that it has entered into a definitive merger agreement under which CLX will acquire Mblox Inc. ("Mblox") for a cash consideration of USD 117 million. With this acquisition, CLX solidifies its position as one of the leading enterprise messaging providers in the world, further strengthening its position as one of the global leaders in cloud communications for enterprises.
Mblox is one of the largest application-to-person (A2P) mobile messaging providers globally processing more than 7 billion messages in 2015. Mblox was recognized as one of only four Tier-1 providers in the world (together with CLX) and the highest rated US-based global provider, according to a survey of mobile network operators conducted by the Roaming Consulting Company in 2015. Both CLX and Mblox are enterprise communications service providers with a global presence and customer base, yet the combination is highly complementary: CLX's strong position in Europe is complemented by Mblox's strong position in the US, UK and Australia.
The combined company will have a strong base to leverage CLX's ongoing expansion for Internet-of-Things (IoT) connectivity, and will deliver one of the leading platforms with a large number of operator relationships enabling enterprises to run business critical communications with both people and things, over all three major mobile communication channels: messaging, voice and data.
Johan Hedberg, CEO and co-founder of CLX commented. "CLX was founded with a mission to simplify communications globally and this is a significant step forward. The deal strengthens CLX's position in existing markets and more importantly gives us a strong foothold in the large and attractive US market. The acquisition expands our global communications network and will also significantly increase our customer base with a number of blue chip enterprises. The expansion of our global IoT connectivity network will gain pace due to the increased footprint and scale with mobile operators that this deal delivers."
Tom Cotney, CEO of Mblox, commented, "This partnership with CLX forms a leader in an industry that has been slow to consolidate. The combination of the companies continues CLX's impressive growth and I am delighted with the announcement of this deal. It gives our customers more of what we have been able to deliver over the past three years - improvements in quality, reliability and the broadest global reach in the industry. It gives our employees new opportunities and the pride of being a part of the undisputed leader in an exciting industry."