Soprano Design buys Singaporean counterpart Hello Technology
Soprano Design has expanded its mobile messaging technology capabilities with the acquisition of Singapore-based Hello Technology, which was advised during the deal by M&A consultancy Equiteq.
Headquartered in Sydney, Soprano Design is a provider of mobile messaging technology for mobile network carriers and enterprise customers worldwide. The company’s communication platform as a service (CPaaS) is used by thousands of organisations around the world for mobile interactions such as SMS, voice, email, and omnichannel messaging.
Like Soprano, Hello Technology specialises in mobile messaging services. Responsible for around 600 million mobile messages per year, the company bills itself as the market leader in Singapore, and works for enterprises in the financial services, detail, and telecom sectors, as well as government agencies.
The deal sees Hello Technology’s team (around 40 staff) and assets transfer to Soprano Design, lifting its customer base to over 7,400 customers and its mobile messaging portfolio to over 15 billion per year.
During the deal, Equiteq acted as financial advisor to Hello Technology. The lead financial buy-side advisor to Soprano Design was at the time of writing unknown.
Commenting on the deal, Arun Nayak, Director at Equiteq, said: “Hello Technology has over the past two decades built a business which is truly one of its kind in the CPaaS space in Singapore. Soprano Design is a perfect match. We are proud and happy to have been instrumental in helping these two companies combine their unique strengths and get poised to get to more successes together.”
Richard Favero, the founder of Soprano Design, said that the deal is part of the company’s growth strategy and comes in response to increasing demand for communication solutions and technology.
“Meaningful engagement and trusted mobile interactions have become an even more important form of currency for businesses and governments around the world.”
The purchase comes on the back of Soprano Design’s acquisitions of Ubisend in the United Kingdom (2022) and Silverstreet in Malaysia (2020).
