Communication Platform Route Mobile to buy AI firm Phonon for INR 29 Crore
Route Mobile is an Indian cloud communications network as a service provider. The company's headquarters are in Mumbai, and it has offices in Asia-Pacific, the Middle East, Africa, Europe, and North America.
According to the firm, upfront compensation will be paid out when the deal closes, and deferred consideration will be paid out in four installments.
“The acquisition allows Route Mobile to leverage Phonon’s supercharged customer experience platform and enable brands to deliver personalized experiences across digital touchpoints,” Route Mobile added.
Phonon, a pioneer in hosted telecom software technology provides a comprehensive set of conversational AI-driven contact center solutions that are compatible with cloud platforms such as AWS, Azure, and Google Cloud.
Citibank, HDFC Bank, Yes Bank, HDFC Life Insurance Co. Ltd, Royal Sundaram General Insurance Co. Ltd, Air Asia (India), GoAir, IndiGo, Vistara, Yatra, ITC Hotels, and Sodexo are among the companies that use Phonon's solutions.
“Phonon’s Communication automation platform, combined with Route Mobile’s suite of CX driven solutions will benefit digital brands to transform and automate their contact center operations, offering unique digital communications experiences to their customers,” said Rajdipkumar Gupta, Managing Director and Group CEO, Route Mobile Limited.
In the fiscal year 2019-20, Phonon made Rs 17 crore in revenue. By May 31, 2021, the acquisition is expected to be completed.