New Delhi, Apr 29 (PTI) Route Mobile, a cloud communication service provider, on Thursday said it will acquire Phonon Communications Pvt Ltd (PCPL) for Rs 29 crore.

The acquisition of PCPL, which is a communications automation platform provider, will allow Route Mobile to leverage Phonon's customer experience platform and enable brands to deliver personalised experiences across digital touchpoints, a statement said.

Phonon offers a complete suite of conversational AI-driven contact centre solutions with integration on cloud platforms like AWS, Azure, and Google Cloud.

Its solutions are used by global brands like Citibank, HDFC Bank, Yes Bank, HDFC Life Insurance, Royal Sundaram General Insurance, Air Asia (India), GoAir, IndiGo, Vistara, Yatra, ITC Hotels and Sodexo, among others.

PCPL's turnover stood at Rs 16.93 crore in 2019-20.

The acquisition is expected to be completed by May 31, 2021, Route Mobile said in a regulatory filing.

"The cost of acquisition is Rs 29,00,00,000, inclusive of the upfront and deferred consideration," it added.

The upfront consideration will be paid out upon closing of the transaction and deferred consideration will be paid out in four tranches, the filing said.

It noted that the cost of acquisition will be adjusted (at the time of closing) depending upon working capital of PCPL as per the audited financial statements for the fiscal year ended March 31, 2021.

This acquisition enhances Route Mobile's capability to accelerate the digitalisation journey, enabling enterprises to seamlessly adopt cloud communication solutions, the statement said.

Phonon.io's deep domain expertise will further strengthen Route Mobile's CXPaaS strategy with a conversational AI-driven communication automation platform that can help brands and enterprises deliver better service to their end customers, through enhanced engagement on multiple channels, including mobile apps, websites, and social media platforms, it added.

"This association aligns with our vision 2.0 to deliver superlative customer experiences by empowering brands and enterprises to have a deeper engagement on a scalable communications platform," Route Mobile Managing Director and Group CEO Rajdipkumar Gupta said.

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 centre operations, offering unique digital communications experiences to their customers, he added.

"We are thrilled to incorporate our Communication Automation Platform into Route Mobile's innovative products and services to enable a best-in-calls on Customer Experience Platform as a Service (CXPaaS) portfolio.

"Digital adoption is at an all-time high redefining the future of communications. CXPaaS is an ideal catalyst to help businesses increase efficiency and reduce costs,” PCPL Managing Director and Chief Executive Ujwal Makhija said.

The combined CPaaS and CCaaS market is expected to exceed USD 35 billion by 2025.

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