Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Mobile multi-channel messaging platform, mGage has acquired integrated cloud communications solutions provider, Unicel Technologies for about $12 – 15 Mn in an all-cash deal.
The acquisition will enable the US mobile messaging provider; mGage to churn a turnover of $46 Mn by next year.
Commenting on the deal Vinay Aggarwal, founder and promoter, Unicel Technologies said, “A marriage of the two companies will enable Unicel to deliver greater value to our present customers and will increase the reach to a global customer base.”
Though, mGage has effectively taken a majority stake in Unicel this month, mGage’s wholly-owned Indiam subsidiary, mGage India Private Limited will take on the complete acquisition by 2016.
Talking on the development part, Deepak Goyal, COO mGage India said, “Unicel was the strongest player in the application to peer messaging space in South India. Together, we will become the largest player in this space with an approximate market share of about 45% in India.”
Bangalore-based, Unicel Technologies was founded in 2003 by Vinay Aggarwal with INR 1 lakh from his personal capacity. The company offers cloud communication solutions across channels like SMS, voice, USSD, including email. Unicel services over 1,000 enterprises across verticals like BFSI, IT, government, retail, manufacturing and distribution, and media with its clientele including Accenture, IBM, New York Maxlife, Infosys and Wipro.
Both fraternities help banks, ecommerce companies, airlines, etc, to interact with customers on delivery information of ecommerce packages to withdrawal alerts, through SMSes, email and unstructured supplementary service data (USSD) facility. Goyal added that with the takeover we will now have 8 of the top 10 ecommerce firms and 3 of top 4 banks as their customers.
Also to be noted that with this acquisition Vinay Aggarwal, will exit and plans to launch another venture in the enterprise technology space sooner this year.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.