Boku Identity was acquired by Boku In, in 2019 as Danal Inc. Boku Identity provides mobile verification and authentication solutions driven by real-time connections to Mobile Network Operators ("MNOs").

The divestment allows Boku to become a pure-play payments business focusing its resources on exploiting the mobile payments opportunity, particularly to continue expanding its mobile first ("M1ST") Payments Network. The acquisition of Boku will in turn provide Twilo with an exceptional platform to its investment into the fast-growing the mobile identity and authentication sector.

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.
The deal was led by Anthony Platt, Partner at finnCap Cavendish.

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.”

Anthony Platt, Partner at finnCap Cavendish commented:
“We are delighted to have advised on this landmark transaction between one of AIM’s largest technology companies and a significant player in the US mobile solutions market, further cementing finnCap’s expertise in the space. Mobile verification and authentication solutions are fast-growing and highly active markets, where we expect to see continued opportunities in the future.

With strong revenue growth in Boku’s Identity division underpinned by recent client wins, we expect this acquisition to be a great success for both companies”.