$SINCH is putting its $690m from Softbank to work, acquiring Chicago-based Inteliquent for $1.14B. The business is profitable, generating $500m+ in revenues, and maybe most importantly concentrated in the US.

This seems to be a push into the US for the Swedish CPaaS player. The company has been one I’ve wanted to spend more time learning about given its had a hell of a ride the past couple years (>10x stock performance).

To be clear, I’m still long $TWLO and their earnings this week was encouraging. 65% YoY growth and 139% net dollar retention is incredible at their scale.

I’m more just amazed at how this market has embraced M&A both as a way to add new communication channels, new product lines, and now new geographies.

Some of the notable ones:

→ $TWLO acquires SendGrid for $3B

→ $TWLO acquires Segment for $3.2B

→ $BAND acquires Voxbone for ~$500m