Sinch, a leading A2P(application to Person) SMS vendor has entered into an agreement to acquire Wavy for a total cash consideration of BRL 355 million (~USD 69.5 million) and 1,534,582 new shares in Sinch.
Wavy is part of Movile Group, an ecosystem of leading technology companies in Latin America, and has established itself as a leading business messaging provider in Latin America. The company has successfully leveraged its strong position in text messaging to build a prominent position in next-generation, conversational messaging. It is the second-largest messaging provider in Brazil and offers services in Mexico, Colombia, Peru, Chile, Argentina and Paraguay. Wavy has commercial agreements with more than 50 mobile operators in Latin America and currently handles more than 13 billion business messages per year.
Enterprise customers relying on Wavy’s SMS capabilities include financial institutions Caixa and CitiBanamex as well as Atento, the global Business Process Outsourcing provider. A strong commitment to innovation has also seen Wavy develop a leading position in next-generation, conversational messaging over WhatsApp.
Oscar Werner, CEO, Sinch
Uniting Sinch and Wavy significantly strengthens our offering in next-generation messaging and expands our presence in Latin America. Our shared vision, greater scale and global outlook makes us uniquely well placed to succeed in the marketplace, innovate with our customers, and grow our business.
Eduardo Henrique, CEO, Wavy
Wavy is built on passion, innovation and a mission to make an impact on a global scale. Joining forces with Sinch lets us innovate together and truly transform how businesses engage with their customers.
