The takeover of the Proximus Group for a majority stake in Route Mobile has been completed and amounts to a total share of almost 83 percent.

The Proximus Group has completed the acquisition of a majority stake in Route Mobile, a global player specializing in Communications Platform as a Service (CPaaS). The total interest rate is almost 83 percent. This acquisition represents a major step for Proximus, which is on its way to becoming one of the largest communications companies in the world.

Majority shareholding completed

In July last year, Proximus Group announced the acquisition of a majority stake in Route Mobile, an Indian company specializing in CPaaS. Subsequently, the company signed a definitive agreement with the founding shareholders of Route Mobile to acquire nearly 58 percent stake through Proximus Opal worth 59,224 million Indian rupees, equivalent to approximately 643 million euros. Several Route Mobile shareholders have also committed to reinvesting 299.6 million in Proximus Opal.

Under Indian regulations, the agreement resulted in a mandatory tender offer (MTO) for up to 26 percent of the total outstanding shares at the same price per share.

Meanwhile, the company said in a press release that the transaction was completed following approval from competition authorities and completion of the MTO process. After a little calculation, Proximus Opal’s total share in Route Mobile amounts to 82.70 percent.

The takeover is an important factor in the international strategy of the Proximus Group. In recent years, the Proximus Group has already established an important presence in the CPaaS and digital identity market with its American subsidiary Telesign. The addition of Route Mobile only strengthens this position.