IMImobile to acquire Canada’s Impact Mobile Inc for £15.8m

Cloud communications software firm IMImobile PLC is acquiring an end-to-end mobile engagement services company in Canada.

London-headquartered IMImobile will pay an initial £14.4m to acquire Impact Mobile Inc, with a further £1.4m payable six months after completion.

Impact Mobile is headquartered in Toronto and has an additional office in New York. For the year ending December 31 2017, it generated a gross profit of C$7.6m (£4.4m) against a turnover of C$10.6m (£6.1m). It employs 22 people.

The firm is currently owned by Dealnet Capital Corporation, a listed consumer finance company based in Canada.

Jay Patel, CEO of IMImobile, said: “We are delighted with the acquisition of Impact Mobile. As with our previous acquisitions, this combination allows us to extend the distribution of our software into an established and growing customer base.

“We look forward to working with the experienced Impact Mobile team and expanding our footprint across North America.”

IMImobile will fund the deal with existing cash resources and a £10m loan facility with Silicon Valley Bank.