Tata Communications will acquire a US-based Communications Platform as a Service firm Kaleyra Inc for $100 million.
Kaleyra is an omnichannel integrated communication services provider with proprietary platforms, offering targeted personalisation through messaging, video, push notifications, e-mail and voice-based services, and chatbots.
“Kaleyra brings a stronghold in the business communications market in banking and financial services, retail and digital commerce industries across global markets, in addition to a strong team with expertise in technology, engineering and research & development,” said a press statement.
Under the terms of the agreement, Tata Communications has agreed to acquire Kaleyra, Inc. in a cash-only transaction at a price per share of $ 7.25 for a total consideration to Kaleyra shareholders of approximately $100 million and the assumption of all outstanding debt.
This transaction has been unanimously approved by the Boards of Directors of Tata Communications and Kaleyra.
Upon closing the transaction, expected in six to nine months, Kaleyra Inc. will become a subsidiary of Tata Communications Limited. For the full year ended 31st December 2022, Kaleyra reported revenue of $ 339.2 million ($ 353.3 million in constant currency), an increase of 26.7% compared to the full year 2021 (32.0% increase in constant currency). “With this investment in Kaleyra, we will accelerate our push into the customer interactions platform market and fortify our global CommTech position,” said A.S. Lakshminarayanan, MD and CEO, Tata Communications. “We are excited about Kaleyra’s remarkable talent and their demonstrated capabilities in next-gen technologies. With this acquisition, we will further build intelligent, intuitive and innovative multi-channel communication solutions to unlock new growth opportunities for our customers.”
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Published on June 28, 2023
