On July 01, Sarv and Route Mobile went under BTA (Business Transfer Agreement) for the acquisition of primarily intellectual property (software) and its associated identified customer contracts (business). This acquisition was on a slump sale basis.
As the deal came into motion, the share price of Route Mobile went up by nearly 14%. It was INR 1968.50 on the BSE.
"Route Mobile has acquired (through a slump sale) the core intellectual property (IP) for Sarv’s business email technology platform (transactional and promotional email), the team of professionals that built and supports the platform, and customer contracts, subject to the closing conditions," it said in a press release.
On July 05, Route Mobile has completed the acquisition of SendClean by Sarv. As per the deal, Route Mobile paid an upfront purchase consideration of 26.25 Crore in cash to Sarv Webs. The deferred amount of 4 Crore will be paid on the anniversary of the acquisition.
With this integration of Sarv’s email service, Route Mobile is focusing on serving its customers with a customizable but complete business solution. SendClean is going to support A2P SMS, OTT messaging, voice, and other business solutions from Route Mobile.
With intelligent AI-powered solution from Sarv will help RouteMobile to have actionable insight with automation and simplified communication strategies to their customers at every stage of the service cycle.
After this acquisition, the company reported a jump of 139.8% in its consolidated net profit. In Q4 FY20 it was Rs. 14.79 Crore that is Rs. 35.47 Crore in Q4 FY21. The company also observed an increase in sales during the quarter by 36.4% year-on-year to Rs. 362.44Crore.
Sarv is really happy to see this acquisition and they are looking forward to working with RouteMobile.