finnCap Cavendish, part of financial advisory firm, finnCap Group, has advised on the sale of Boku Identity division, to Twilio, a US-based cloud communications platform.
According to a report by Finextra, the divestment will allow Boku to become a pure-play payments business focusing its resources on exploiting the mobile payments opportunity, particularly to continue expanding its mobile first payments network.
The acquisition of Boku will provide Twilo with a platform to its investment into the fast-growing the mobile identity and authentication sector.
finnCap Cavendish said the the deal underlines finnCap’s continued ability to find the right growth solutions for the businesses of tomorrow by offering a breadth of services supported by strong and highly experienced teams with expertise across both private and public markets and a global network of partners to conduct cross-border transactions.
Jon Prideaux, CEO of Boku, said, “This is an important milestone for our business, allowing us to focus on developing our mobile payments solutions. We believe Boku Identity will be able to continue to develop under Twilio’s ownership and we wish the business and its staff well for the future. We were impressed with the resilience and creativity of the team at finnCap Cavendish and are grateful to them for advising on the deal.”
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