Route Mobile stock soars 17% to hit 52-week high after Microsoft, Proximus deal

According to a filing by the company, Microsoft and Proximus Group have entered into a five-year strategic partnership aimed at enhancing their digital capabilities and advancing innovative solutions for business and residential customers in Belgium and beyond.

This collaboration is set to strengthen the leadership positions of both companies. Microsoft will leverage the top-tier products from Proximus’ global affiliates, including BICS, Telesign and Route Mobile, while Proximus gains access to Microsoft’s Azure Cloud platform, harnessing the latest advancements in AI and data technologies.

As per the filing, the newly established partnership between Microsoft and Proximus centres around three areas:

• It will work towards enhancing Communication Platform as a Service (CPaaS) and Digital Identity (DI), aiming to streamline customer engagement across channels. Leveraging Proximus Group’s CPaaS and DI expertise, supported by Telesign and Route Mobile via BICS networks, the collaboration will innovate customer communication and security services. Both entities will intensify efforts to enhance digital security and trust through robust Digital Identity and anti-fraud solutions.

• Proximus teaming up with Microsoft for a strategic cloud transformation. Key platforms will migrate to Azure cloud services, promising improved scalability, faster market deployment and heightened security. This transformation aims to expedite the integration of cutting-edge AI technologies into customer service and operational frameworks. It also equips Proximus engineers with a top-tier development environment to foster innovation in product creation and customer experiences.

• Microsoft and Proximus enhancing Proximus’s go-to-market strategy through close collaboration. This partnership aims to optimise Proximus’s role as a reseller of Microsoft products and services in Belgium, strengthening its position as a leading Microsoft partner in the region.

Route Mobile stock opened the session at a price of ₹1,647, slightly above its previous close of ₹1,645, and subsequently soared to achieve both its intraday and 52-week high of ₹1,930. The shares ended the trading session at ₹1,856.85 per piece, reflecting a substantial gain of ₹211.8, or 12.88% on NSE.