CLX Communications completes acquisition of Mblox Inc.
CLX Communications AB (publ) (“CLX” or the “Company”) announced on 13 May 2016, that the Company had acquired Mblox Incorporated (“Mblox”). CLX has today gained access to 100 percent of the shares in Mblox and has, following the preliminary purchase price set-off, paid USD 117 million in cash. The acquisition strengthens CLX’s position as a leading provider of cloud-based communication services to enterprises and communication solutions to mobile operators.
The acquisition of Mblox provides CLX with a strong footprint in the US, UK and Australian markets and a large number of additional direct Tier 1 carrier connections. Combined with CLX’s existing business this creates a global portfolio of high-quality communications services for enterprises, operators and developers to communicate globally with people and things (IoT) via simple APIs, including CLX’s world leading SMS API. CLX’s global portfolio of more than 150 direct Tier 1 operator connections provides an important competitive advantage in today’s cloud communications market.
Mblox delivered 7 billion messages in 2015, and therefore adds a vast amount of SMS traffic to the Enterprise Division of CLX Communications. Increasing message volumes will create important synergies that enable future growth for messaging, voice and IoT services. Furthermore, the merger will allow CLX to offer a new SMB (SaaS) solution to clients, a new customer segment for CLX, while offering new services in the areas of voice and IoT connectivity to existing Mblox customers.
CLX and Mblox will now merge to become an integral component of the mobile messaging ecosystem servicing global enterprises, including many global internet brands and Communications Platform as a Service ‘CPaaS’ companies, also known as Cloud API providers, with Tier 1 backbone connectivity on which many of their services rely.
The combined pro forma net sales for 2015 amounted to SEK 2,119 million with a combined pro forma EBITDA of SEK 151 million. Together the two companies are present in 19 countries and across six continents globally.
Carnegie acted as financial adviser to CLX in the acquisition of Mblox.