 "Italian company Ubiquity acquires 51% stake in Solutions Infini")
Italian mobile services provider Ubiquity on Friday announced that it has acquired 51 per cent majority stake in Solutions Infini, a Bengaluru-based enterprise communication and cloud telephony services startup.
The acquisition will broaden Ubiquity's offerings and business solutions, including the addition of a voice services platform by expanding its range of services to the enterprise and developer segments in the emerging Indian market, the company said in a statement.
"Solutions Infini will be an excellent addition to our existing businesses, thanks to its state-of-the-art cloud platform and its large customer and partner base," said Dario Calogero, founder and CEO of Ubiquity.
The investment is part of Ubiquity's drive to expand its international presence beyond Europe while also providing Solutions Infini with a global platform to scale up in other international markets.
The combination of the two companies will create a global group with offices in 10 locations across Europe, India, and the Middle East, with a collective turnover of over $65 million and 180 employees.
Ubiquity expects this partnership to help generate combined business revenues of over $200 million by 2020.
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Founded in 2009, Solutions Infini has a cloud-based technology platform which enables enterprises across industries engage with their customers using mobile messaging, voice communication and e-mail.
"Joining Ubiquity will help us accelerate our expansion into new, international markets and also allow us to drive greater value to consumers and help them grow their businesses," added Aniketh Jain, co-founder and CEO of Solutions Infini.
The deal is expected to close in early 2017, following which Solutions Infini will become a subsidiary of Ubiquity.