BICS Group accelerates its transition to a communications platform company with acquisition of 3m Digital Networks
Deal adds omnichannel communications platform to BICS’ Cloud Communications portfolio to serve fast growing global digital communication needs
BICS, an international communications enabler, has agreed the acquisition of Communications Platform as a Service (CPaaS) specialist, 3m Digital Networks Pvt Ltd, by BICS Singapore, a 100% subsidiary of the BICS Group, for an undisclosed amount. The deal will accelerate the BICS Group strategy to become a communications platform company, delivering a suite of cloud-based omnichannel communications services alongside its existing portfolio. This will significantly enrich BICS’ value proposition towards both the telecommunications and enterprise markets, with the ambition to expand its Software-as-a-Service (SaaS) solutions to support businesses in their digital transformation.
The acquisition will add a wide range of cloud-native communications solutions to BICS’ portfolio, including AI-enabled voice, multi-channel messaging (WhatsApp, verification services, IP messaging, and Rich Communications Services) and advanced analytics services. 3m Digital Networks’ technology will augment BICS’ API-based communications and leverage its vast cloud numbers reach in more than 200 countries, combined with its industry leading SIP-Trunking, and high-quality global voice and messaging coverage. Serving over 500 customers and carrying more than three billion messages each year, 3m Digital Networks was recognized as a Deloitte Tech Fast company for India and APAC in 2019, for combining technological innovation, entrepreneurship, and rapid growth.
“This acquisition fast-tracks BICS’ vision to become an integrated communications platform company, combining our global reach with software-based applications for a seamless user experience. With these new capabilities, we can offer our customers a broader set of tools to quickly and more effectively engage their customers through the power of digital communications,” explained Matteo Gatta, BICS Group CEO.
Powered by a state-of-the-art and scalable public cloud-based communications platform, BICS will empower businesses to easily build and configure a full suite of digital communication services to engage their customers and enhance the customer experience.
BICS’ Cloud Communications portfolio serves three distinct digital use cases: customer engagement, customer support and collaboration. According to IDC, global market revenue for CPaaS reached $5.9bn in 2020 and is expected to reach $17.71bn by 2024. The Synergy Research Group reported APAC as the fastest growing CPaaS market in the world, registering 55% year-over-year growth in Q2 2021.
“By joining the BICS Group, we can develop new use cases which build on our respective strengths, allowing us to seize new growth opportunities as companies around the world accelerate their digital transformation strategies,” said Ajay Gupta, 3m Digital Networks Co-Founder & CEO. “Being based in Asia, we have a competitive advantage to deliver these services in a large and digitally-driven market, while leveraging BICS’ global footprint to serve as a differentiator.”
Brijesh Kashyap, Co-Founder & Managing Director of 3m Digital Networks went on to say “Our passion is helping businesses achieve unified communications through multichannel customer centricity. In joining hands with BICS, we will be able to serve our customers in more meaningful ways, and with trusted global reach.”
The deal is subject to customary closing conditions.