Shares of Route Mobile surged 14 percent to its 52-week high on Friday after the company signed definitive agreements to acquire business email technologies from Sarv Webs Private Limited (Sarv) on a slump sale basis.

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The stock rose as much as 14.2 percent to its 52-week high of Rs 2,024.70 per share on the BSE.

The firm acquired an artificial intelligence-driven email communication platform, Sendclean, from Sarv to boost the capabilities of its Customer Experience Platform as a Service (CPaaS) platform.

"Route Mobile has acquired (through a slump sale) the core intellectual property (IP) for Sarv’s business email technology platform (transactional and promotional email), the team of professionals that built and supports the platform, and customer contracts, subject to the closing conditions," it said in a press release.

"The upfront purchase consideration of Rs 26.25 crore shall be paid upon closing of the acquisition, in cash. A deferred consideration of Rs four crore shall be paid, on the first anniversary of the closing of the acquisition, in cash," it added.

Route Mobile is one of the leading cloud communication platform service providers to enterprises, over-the-top (“OTT”) players, and mobile network operators. The company’s portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics, and monetisation.

The firm explained that integrating Sarv’s email communication technology with Route Mobile’s CPaaS platform will deliver unified and unparalleled cloud-based digital communication solutions to global enterprise clients.

“Adding Sendclean’s advanced email communication platform to Route Mobile’s bouquet of CPaaS-driven solutions enables an unparalleled and comprehensive digital communication solution, for global enterprises, that drives more revenue, and at the same time simplifies customer communication across the lifecycle. Sendclean leverages cutting edge growth enabling tactics to significantly enhance ROI for businesses,” Ramesh Chaudhary, Founder & Director, Sarv said.

Additionally, enterprises can gain actionable insights through intelligent automation and build simplified communication strategies for their customers at every stage of the service cycle, the company said.

The closing of the transaction is subject to customary condition precedents and regulatory approvals, as applicable, and is expected to close within the next 30 days.