The global provider of messaging solutions acquired the company from publicly listed Pushpay Holdings Limited (NZSX:PAY) for $4,500,000, enhancing its strategy to deliver enterprise messaging solutions by combining Modica’s cloud based messaging platform, with Run The Red’s 15 years experience in delivering high volume, mission critical messaging solutions.
It has offices in New Zealand, Australia, Central America and the USA.
Modica Group chief executive Stuart Wilson, from the Australian office in Sydney’s Tyro FinTech hub said in a release that with most of New Zealand’s mobile messaging companies having sold out to Australian or international buyers, it's refreshing to be a part of a locally led success story.
“Already both companies have an international presence and are executing on high growth strategies. Now as one focused group, with over 30 years combined experience, we plan on redefining the global enterprise messaging market.”
He says the mobile communications industry is constantly evolving and the volume of application to peer (A2P) messages being delivered is still growing due to solutions such as Two Factor Authentication and secure alerts and notifications.
“We are now in an even stronger position to help our partners and customers benefit from enterprise messaging and we are actively looking at further acquisitions to increase our reach and capabilities.”
Run The Red chief executive Ben Northrop said the company is excited to join Modica Group and share the lessons learnt from being involved in Pushpay’s listing on the NZSX and rapid growth in the US.
“We help our clients have better two-way conversations with their audiences via mobile. This combination of bullet-proof technology and an experienced global support and delivery team sets us apart from others in the industry.”
Since the acquisition, Northrop has stepped into the role of group chief marketing officer, with all other Run The Red team members taking up new positions at Modica Group as well. The combined staff number is now over 30, overseeing 500-plus mobile messaging customers across offices its international offices.
When Sailthru approached the mobile app development company about an acquisition, it felt it was the right opportunity for customers, agency partners and the vision of where it wanted to go.
According to Carnival: "Mobile is growing and evolving, and the pace of change will only continue to quicken. More than 80 percent of millennials use apps on their smartphones and nearly 90 percent of the next generation is already app-enabled. But, we’re not talking about just another channel here: email, web, apps and even in-store experiences can be accessed and influenced through mobile."
Carnival.oi said the acquisition works because both companies share the same vision and a common goal to help build longer lasting relationships with customers.
Teaming up with Sailthru will also help it give its clients a more omnichannel approach, delivering relevant, timely and extremely personalised content to engage their customers in this complex landscape.
Sailthru has expanded Carnival's resources to grow its engineering team, accelerate its roadmap, and the ability to leverage its existing scale and expertise.
"It’s extremely exciting to take the next step of this journey together with Sailthru, and we really couldn’t have got to this point, without the support of a lot of great people."