BICS set to acquire TeleSign for $230 million

BICS

Proximus subsidiary BICS is set to acquire TeleSign as it seeks to expand its presence in cloud communications.

The Belgium-based operator’s wholesale arm will pay $230 million for the US-headquartered TeleSign, a communication platform provider with annual revenues of around $100 million.

The combined company will offer developers and product owners the ability to add real-time communications features to applications and services without having to build backend infrastructure and interfaces, BICS said.

It added that the acquisition would allow it to diversify in terms of customers, solutions and geographies.

For example, it is also expected to enhance the company’s presence in the Americas and bring internet brands into its customer base.

The transaction is expected to close in the third quarter of 2017 after regulatory conditions are fulfilled.

Post-acquisition, TeleSign will operate independently under the same brand name as a wholly owned subsidiary of BICS, with Aled Miles continuing as CEO and BICS CEO Daniel Kurgan becoming Chairman.

Kurgan said: “By combining the power of TeleSign’s advanced cloud communication platform and customer base with BICS’s market-leading footprint and global reach, we are well positioned to lead the development of one of technology’s most exciting sectors.”

The acquisition by BICS comes as it continues to weigh on parent company Proximus’s performance.

In 2016, BICS saw sales drop 9.6 percent to €1.5 billion on the back of falling voice traffic.

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