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Sinch to buy Brazil's Wavy from Movile, sees up to BRL 20 mln synergies in 2 years

2020-03-27 09:51:00| Telecompaper Headlines

(Telecompaper) Swedish mobile messaging service provider Sinch said it has signed a definitive agreement to acquire Brazilian messaging company Wavy for BRL 355 million in cash and 1.53 million new shares issued to owner Movile, and expects to complete the deal in the second half of 2020. Merger synergies are expected to reach BRL 15-20 million over the coming 24 months. Sinch has increased its credit facility by SEK 600 million for future acquisition opportunities, too.

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Category:Telecommunications

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