Proximus confirms talks on strategic deal for TeleSign

News General Belgium 1 DEC 2021
Proximus confirms talks on strategic deal for TeleSign

Proximus has confirmed reports it is in exploratory talks about a potential transaction for its subsidiary TeleSign. The US-based company has been fully owned by Proximus since 2017 and is a leading player in mobile digital identity, authentication and secure CPaaS (communication platforms as-a-service) services.

Proximus said in February that it wanted to support TeleSign's growth plans. It is now exploring several strategic options that would allow the unit to reach its full potential, but with Proximus still holding a majority stake.

The company confirmed that an IPO via SPAC merger was one of the options on the table but added that the process was still ongoing and that several steps still needed to be taken. The company said it will give no further comments at this stage.

For the third quarter, TeleSign revenues reached EUR 87 million, up 22.1 percent or 21.4 percent on a constant currency basis. The subsidiary also expects to hit double digit sales in the fourth quarter thanks to new customers.

Categories:

General

Companies:

Proximus,  TeleSign

Regions:

Global

Countries:

Belgium

Tags:

Shareholders & subsidiaries, Corporate strategy, Market research

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