06 December 2021

Routesms Solutions FZE, a subsidiary of Indian cloud firm Route Mobile, has signed a share purchase agreement to purchase 49% of the total outstanding equity share capital of Kuwait-headquartered Interteleco.

Under the term of the deal, Routesms will also acquire an additional 41% of economic and beneficial interest, including distributions, dividends, profits and voting.

Mobile communications services provider Interteleco offers mobile app services, payment solutions, chatbot and conversational AI.

It serves sectors such as telecommunications, e-commerce, financial accounting, inventory management and project management service companies.

“Route Mobile has been a communication enabler in the GCC and this acquisition further reinforces our commitment in bringing global personalised communications solutions to businesses in the regions,” said Rajdipkumar Gupta, managing director and group CEO, Route Mobile.

The acquisition is expected to be completed in the next two months, subject to certain conditions being met.