R22 will take over 100 percent of shares in the Czech company ProfiSMS for the equivalent of approx. PLN 40 million, the company said in a statement. The contract was concluded between Vercom (a subsidiary of R22) and Net Brokers Holding, owned by Bauer Media Group.

The price for the ProfiSMS shares was set at CZK 239 million, of which CZK 17.95 million will be payable in twelve monthly installments. R22 will finance the acquisition from its own funds and a loan, the company's loan agreement concluded in January this year with mBank and ING was changed, and the amount of financing granted increased by PLN 36 million.

In a press release, R22 stated that the ProfiSMS group is the leader of the Czech transactional and marketing SMS communication market, and the group is also active on the Slovak market.

In 2019, ProfiSMS sent 275 million SMS messages, generating €7.3 million in revenues, which meant an increase by 4 percent y/y. At the same time, the EBITDA result increased by almost 13 percent up to €1.2 million..

R22 informed that the acquisition of ProfiSMS is to give the group a strong position on the Czech market, but above all to enable the international development of the communication segment, the so-called communication platform as a service (CPaaS). In addition, R22 wants to sell ProfiSMS customers other products of the group, related to e-mail communication or push notifications. 

(PAP)