Sweden’s Sinch to buy communications firm Inteliquent for $1.14 billion

Swedish cloud computing services provider Sinch AB said on Wednesday it had agreed to buy U.S. communications company Inteliquent for $1.14 billion in cash.

Sinch, whose share price has nearly tripled over the past 12 months on the back of the work-from-home trend prompted by the pandemic, said it expected the transaction to close in the second half of the year.

The rival of U.S.-based to Twilio Inc said the acquisition would establish Sinch as the leader in voice connectivity for both enterprises and telecom carriers in the United States.

“Our joint strengths in voice and messaging provide a unique position to grow our business and power a superior customer experience for our customers,” Chief Executive Oscar Werner said in a statement.

Sinch, which made several acquisitions in 2020, counts Softbank-owned SB Management among its investors.