CLX Expands Nordic Footprint with Unwire Acquisition
Enterprises around the world are composing digital transformation initiatives as I write this, with the cloud playing a major role. The alphabet soup that is the cloud is opening doors to enhanced communication and collaboration tools, while offering an organization an agile and pocket-friendly approach. With the growing popularity of cloud communication solutions, the market is in the midst of some moving and shaking.
This week, CLX Communications AB announced a definitive agreement to purchase Unwire Communication. This includes customer contracts, employees, cloud communication platform and associated property, but not Unwire Payments & Mobility ApS.
With the acquisition, CLX expands European presence and gains a strong foothold in the Nordic financial services sector. In addition, Unwire possesses number of Tier-1 connections with mobile operators, which allow CLX to augment its global Tier-1 Super Network.
"Nordic enterprises are at the forefront of digitalization and are leaders at utilizing cloud communications to engage with their customers. The acquisition of Unwire Communication further strengthens our market position in the Nordic countries and positions CLX as a leading provider of cloud communications services and solutions to the Nordic financial services sector", said Johan Hedberg, President and CEO of CLX Communications.
CLX will use cash on hand and available credit facility capacity to make the nearly $25 million purchase. As far as restructuring goes, for now, Unwire will run as a separate, branded company under the CLX flag. Once current integrations processes are completed, a final decision will be made on technically integrating the Unwire platform.
The cloud market is on the move. And when it comes to cloud communications, mergers and acquisitions are a driving force in a market of players seeking to create comprehensive portfolios, to compete for years to come.
Are your communications in the cloud?
Edited by Mandi Nowitz