US-based mGage acquires Indian enterprise mobile messaging services provider Unicel
Global multi-channel mobile messaging platform mGage has acquired Bengaluru-based Unicel Technologies Pvt Ltd to bolster presence in the enterprise mobile marketing and mobile customer relationship management (CRM) market in India, it said on Monday.
Although the deal value was not disclosed, separate media reports suggest it to be an all-cash transaction estimated at around Rs 80-100 crore.
Unicel is a mobile messaging company providing integrated cloud communications solutions across SMS, voice, USSD and e-mail platforms in India. Founded by Vinay Agrrawal in 2003, Unicel currently employs around 100 people and has a client base of over 1,000 enterprises across India including various Fortune 500 brands.
Both mGage and Unicel firms help banks to notify customers via SMS alerts about their transactions, enable insurance companies send payment reminders, or assist e-commerce firms to send text messages regarding shipment, delivery or cancellation.
"Success in the mobile engagement market today is dependent on the depth of a company's solutions, the expertise of its team, and its global scale," Jay Sheth, CEO of mGage LLC said.
mGage's platform serves both traditional brand marketers as well as customer care organisations within the enterprise. It offers messaging features with retargeting capabilities including SMS, voice, email, USSD, push notifications and OTT.
As a combined organisation, mGage is expected to enable more than 60 billion transactions annually. mGage claims its multi-channel platform serves more than 1,000 blue-chip brands, enterprises and partners through a network of more than 800 mobile operators around the world.
mGage claims that with this acquisition it is now the dominant player in the enterprise mobile marketing and mobile CRM market in India.
Equirus Capital acted as the financial advisor to mGage for the transaction.