Sydney, December 17, 2020 – Soprano Design, a global leader in the fast-growing communications platform as a service (CPaaS) market, has acquired Silverstreet, another leading CPaaS provider based in the APAC region, solidifying Soprano’s position as a top CPaaS solution provider globally and accelerating Soprano’s ambitious growth strategy.
The acquisition further extends Soprano’s operational footprint in Asia and Europe and puts Soprano on a path to deliver more than 10 billion mobile transactions annually in 2021. With the addition of Silverstreet, more than 6,400 enterprise and government customers globally will now be using Soprano’s technology to enable trust, value and meaning for each and every mobile transaction.
The move signals to enterprise and government organisations that Soprano remains committed to investing aggressively in messaging automation and communications capabilities and solidifies its commitment to differentiate through a combination of robust international connectivity, innovative interactive messaging capabilities and a unique security and compliance toolset geared for large-scale deployments.
“We believe Silverstreet’s mission is aligned with Soprano’s and the combination propels our strategy of preparing for a future where truly immersive and personalised communication experiences are the norm. The year 2020 has shown that mobile communication has become universally and critically important as businesses and governments must cut through to maximize engagement and meet customers in the channels they prefer,” said Dr. Richard Favero, CEO and Chairman at Soprano. “Our customers rely on Soprano Connect software to meaningfully engage with their customers, employees and suppliers, and with the addition of Silverstreet, we will continue to innovate into the future as meaningful, trusted engagement and communication becomes an essential form of currency.”
This acquisition continues Soprano’s positive momentum in a rapidly growing market. Research firm IDC predicts CPaaS revenue to reach $17.7 billion by 2024.
Digital transformation has accelerated in 2020, and Soprano was already among only a handful of CPaaS providers worldwide who can combine a full menu of communications APIs and integration capabilities with a robust, enterprise-grade toolset for network reach, scale, security, compliance and service quality.
Soprano has made similar acquisitions previously, including Orange Gum Pte Ltd in 2009, Fronde’s Message Direct Platform in New Zealand in 2014, and SITmobile in 2014, which saw Soprano gain offices in Spain and across Latin America to become the world’s largest mobile enterprise messaging software company.
Simon Landsheer, CEO of Silverstreet, is stepping down from his role following the transaction. The seller of this transaction is Impiro Pte. Ltd, which is an investment firm started by Silverstreet founders.
For more information on the announcement, please visit: https://sopranodesign.com/blog/communicating-better-together-a-new-chapter-for-soprano-design.
Silverstreet International Pte Ltd is headquartered in Singapore with additional operations in Malaysia, Thailand, Indonesia, Netherlands, and Poland. Launched in 1999 in Tilburg, Netherlands, Silverstreet grew into an international cloud communications specialist amassing more than 3,000 customers worldwide who rely on Silverstreet to automate their mobile communications via a simple, reliable, and frictionless platform and benefit from Silverstreet’s mission to empower communication with intelligence.
Impiro was founded in 2013 by the original founders of Silverstreet. It is a Singapore based early stage (pre-seed / seed) startup investment firm. Its portfolio focus is industry agnostic and global but with an emphasis on tech opportunities across Southeast Asia and the surrounding regions.
About Soprano Design
Founded in Australia in 1994, Soprano is an award-winning global communications software firm that delivers trusted mobile interactions via its powerful cloud-based mobile communication platform, which has revolutionised the way enterprises and governments around the globe engage in a mobile context. Soprano serves more than 100 of the world’s Forbes Global 2000 firms across banking, healthcare and retail on five continents, as well as prominent government organisations in the same locations. Soprano’s flagship solution, Soprano Connect, addresses the increasingly complex automation and communication needs of organizations aiming to meaningfully engage with consumers, employees and citizens by offering a full menu of low-code or no-code APIs for omni-channel communication. Soprano Connect further differentiates in the CPaaS marketplace by providing the compliance, security, policy management, and analytics capabilities that large firms require. Over 70% of Soprano’s business is conducted offshore.
Communications Manager, Soprano Design