SoftBank Buys 10.1% Stake in Sinch After Its Meteoric Surge
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SoftBank Group Corp. has agreed to acquire a 10th of Swedish cloud-based platform provider Sinch AB, making it a significant shareholder in a company that’s seen its stock price soar about 300% this year.
Sinch’s co-founders are selling 5.2 million shares to SoftBank. Through a subsidiary, SB Management, SoftBank also subscribed to an additional 1.2 million shares in the Stockholm-based company.