Sweden's Sinch to buy India's ACL Mobile for $70 million

STOCKHOLM (Reuters) - Fast-growing Swedish cloud computing services provider Sinch AB said on Monday it had agreed to buy Indian firm ACL Mobile for about $70 million (INR 5,350 million) in cash, its third large acquisition since the start of March.

Sinch, which has a scalable platform for messaging, voice and video, said ACL Mobile communications platform has more than 500 enterprise customers, and is particularly strong in the banking and financial services industry.

ACL, had sales corresponding to 607 million Swedish crowns ($65 million) in the during the 12-month period ending in March, with adjusted earnings before interest, taxes, depreciation and amortisation of 59 million.

“With ACL we gain critical scale in the world’s second largest mobile market. We gain customers, expertise and technology and we further strengthen our global messaging product for discerning businesses with global needs,” Sinch CEO Oscar Werner said in a statement.

The acquisition of ACL is Sinch’s third large acquisition over the past few months. In May, it announced it was buying SAP Digital Interconnect, a unit of SAP SE, for 225 million euros ($252.88 million). That followed a deal to buy Wavy in March.

Reporting by Johannes Hellstrom; Editing by Simon Johnson