To increase its reach to a global customer base, US mobile messaging provider mGage has acquired its Bengaluru-based rival Unicel Technologies for an estimated amount of Rs 80-100 crore in all-cash deal. The transaction is expected to be completed in 2016, and provides an exit to Unicel founder Vinay Aggarwal, who started the company in 2003 and will launch another venture in the enterprise technology space this year.
As a combined organization, mGage will enable more than 60 Billion transactions annually. The mGage multi channel platform serves more than 800 bluechip brands, enterprise, and partners through a network of over 800 mobile operators around the world.
Both companies help banks, eCommerce companies, airlines, etc, to interact with customers on delivery information of eCommerce packages to withdrawal alerts, across SMS, voice, USSD (unstructured supplementary service data) and email. Their clients include Flipkart, Amazon, HDFC Bank, ICICI, SBI, and Unilever.
“Together, we will become the largest player in this space with an approximate market share of about 45% in India,” said Deepak Goyal, chief operating officer of mGage India.Category Business Investments