Belgium co to buy 58% in Route Mobile for ₹5,933cr

Mumbai: Belgium-based telecommunications company Proximus Group will acquire a 58% majority stake in Route Mobile, which specialises in CPaaS, a cloud-based platform that enables developers to add real-time communications features to their own applications, for Rs 5,933 crore.

This acquisition will trigger a mandatory takeover offer for up to 26% of the total outstanding shares of Route Mobile at the same price per share. The acquisition, conducted through Proximus Opal, a subsidiary of Proximus Group, marks a strategic move by the company to position itself as one of the leaders in digital communications and digital identity worldwide.