Acision, a UK-based secure mobile messaging platform, is set to be acquired by cloud-based payments processing and monetisation service Comverse, providing an exit to conglomerate Access Industries.
The deal is worth $135m in cash as well as potential earnout payments up to $35m. Acision will also receive 3.13 million common shares in Comverse, worth $74.9m as of the time of writing.
The acquisition is expected to close during the third quarter of 2015. Acision’s headquarters will remain in Massachusetts following the acquisition, and the company will be led by a team made up of executives from both Acision and Comverse.
Acision has developed a communications platform that combines text messaging with internet messaging and voice. The company handles more than two trillion messages a year.
Access Industries is currently a majority shareholder of Acision. The conglomerate backed a $100m round in 2010 which also featured International Investment and Underwriting and Atlantic Bridge.
Jorg Mohaupt, head of TMT at Access Industries, said: “The combination of Acision and Comverse creates a market leader in the high growth digital services segment. We are excited about the potential of this acquisition and the resulting value creation for our shareholders.”