The acquisition enhances Modica Group’s strategy to deliver Enterprise Messaging solutions by combining Modica’s cloud based messaging platform, with Run The Red’s 15 year’s experience in delivering high volume, mission critical messaging solutions.
The acquisition of the company from publicly listed Pushpay Holdings Limited (NZSX:PAY) for $4,500,000 will complement Modica Group’s Enterprise offering and create New Zealand’s largest message company, with offices in Australia, New Zealand, Central America and the USA.
“With most New Zealand mobile messaging companies having sold out to Australian or International buyers, it is refreshing to be a part of a New Zealand led success story, and a story that doesn’t end here. Already both companies have an international presence and are executing on high growth strategies. Now as one focused group, with over 30 year’s combined experience, we plan on redefining the global enterprise messaging market,” said Modica Group CEO Stuart Wilson, from the Australian office in Sydney’s Tyro FinTech hub.
“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 2-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 manages hundreds of mission critical messaging services for clients in the Telco, IT, Finance, Government, Health & Education, Media and Entertainment sectors.
Both companies have tier 1 SMS connectivity partner status with all New Zealand mobile networks including Spark, Vodafone and 2degrees.
All of the Run The Red team have taken new positions at Modica Group, including Run The Red’s founder and CEO – Ben Northrop who has taken the new role as Group Chief Marketing Officer (CMO).
“We help our clients have better 2-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,” said Ben Northrop, Run The Red CEO.
“We are 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.”
The acquisition takes the combined staff numbers to over 30, overseeing 500+ mobile messaging customers across offices in Australia, New Zealand, Central America and the USA.
For media enquiries, please contact Modica Group CMO Ben Northrop: P: +64 21 775 487 | E: email@example.com