Stockholm, Sweden - Sinch AB (publ) - XSTO: SINCH
Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, today announces that it has been granted regulatory approval for the acquisition of SAP Digital Interconnect, a unit within SAP, from the Competition and Markets Authority in the United Kingdom. This means that regulatory approval has now been granted in all relevant jurisdictions and that closing of the transaction can proceed as planned during H2 2020.
Sinch announcedthe acquisition of SAP Digital Interconnect on 5 May, 2020. The acquisition is financed using cash at hand and available credit facilities.
Sinch has a financial target to maintain net debt/adjusted EBITDA below 2.5x over time. At the end of Q2 2020, Sinch had a net cash position with net debt/adjusted EBITDA of -2.1x. On a pro forma basis, which includes Adjusted EBITDA in acquired entities over the past 12 months, Net debt/Adjusted EBITDA would have been 2.2x if the acquisitions of ACL Mobile, SAP Digital Interconnect and Wavy had been closed by Q2 2020.
For further information, please contact
Thomas Heath
Chief Strategy Officer and Head of Investor Relations
Sinch AB
About Sinch
Sinch brings businesses and people closer with tools enabling personal engagement. Its leading cloud communications platform lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice and video. Sinch is a trusted software provider to mobile operators, and its platform powers business-critical communications for many of the world's largest companies. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 30 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.
This information is information that Sinch AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 09:00 CET on October 21, 2020.
Attachment
- 20201021_Sinch_SDI_approval_ENG (https://ml-eu.globenewswire.com/Resource/Download/2af4df12-a375-4f14-baec-3e33b94a3f28)
