Sinch Mergers and Acquisitions Presentation Deck
Deal rationale: Pathwire
Pathwire
Deal rationale
Integration
Financials
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Founded in 2010
Leading developer-centric cloud-based email communications platform
More than 100,000 paying customers using Mailgun and Mailjet products
Headquarters in San Antonio, Texas, with around 290 employees worldwide
• Sinch pays USD 925m in cash + 51m new Sinch shares; this implies an Enterprise Value of USD 1.9bn or SEK 16.6bn
Transaction expected to close by the end of 2021. Integration cost of SEK 75 million expected over 18 months
USD 132m revenues, USD 104m gross profit, USD 55m Adj EBITDA expected in 2021.
Historical revenue growth consistently above 30% with gross margin close to 80% and Adjusted EBITDA above 35%
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Gain leading product offering for email - the world's most-used digital communication channel
Dramatically strengthen developer go-to-market capabilities and differentiate vs competition
Attractive financial profile with high growth and accretive margin profile
Significant revenue synergies from mutual cross-selling of Sinch and Pathwire products to each others' customers
Sinch's global footprint leveraged to accelerate international expansion and strengthen enterprise go-to-market
Pathwire expertise in developer Go To Market leveraged across full Sinch product portfolio
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