Infobip Continues Exponential Growth Journey with Definitive Agreement to Purchase Peerless Network and Raises Additional $500m

Infobip Group, a global cloud communications platform company for customer engagement, and leader in CPaaS solutions, today announces that it has entered into a definitive agreement with global VoIP provider Peerless Network, marking Infobip’s fourth acquisition in under a year. The transaction is expected to complete upon receipt of regulatory approvals in 2022 and will be financed with a combination of Infobip shares and cash. Peerless Network management will roll parts of its holdings into Infobip.

The deal extends Infobip’s voice presence in the US and makes its world class suite of CPaaS products available to Peerless customers, driving high quality conversation across the entire customer journey. In bringing together complementary solutions, the two companies will process more than 30 billion monthly customer interactions across the full range of communication channels, in more than 190 countries around the globe.

The acquisition builds on Infobip’s ongoing investments and earlier acquisition of US messaging heavyweight OpenMarket, which closed in December 2020. Q1 2021 Revenue grew 55% y/y, a function of continued usage growth in its core business plus contribution from the $300m acquisition of OpenMarket. Other acquisitions include the developer Shift Conference franchise, purchased in April, and the world’s number one SMS firewall provider, Anam in May 2021.

In September 2021, Infobip also secured, through direct loan placement, additional funding in the amount of $500m, advised by Morgan Stanley, and led by funds managed by the Credit Group of Ares Management Corporation, and funds and accounts managed by BlackRock. The direct loan placement puts Infobip alongside an exclusive group of high growth, high value technology companies, which utilized the same structure. This is Infobip’s second funding round, following One Equity Partner’s EUR 300m investment in H2 2020.