Tata Communications said on Wednesday that it has signed a definitive agreement to acquire communication platform service provider Kaleyra, Inc. for $100 million.
The Indian company will also acquire NYSE-listed Kaleyra’s gross debt of $224.9 million and net debt of $149.9 million as on March 31, 2023. Most of the debt is related to older acquisitions done by Kaleyra.
Kaleyra is a global omnichannel integrated communication services provider with a set of proprietary platforms, offering targeted personalisation through messaging, video, push notifications, e-mail and voice-based services, and chatbots.
“While enterprise SMS is growing at pace, the non-SMS segment (as part of CPaaS) is also expected to grow significantly. Our product Digo which we launched last year, and Kaleyra’s offerings have geographical complementarity which made the acquisition attractive,” A.S. Lakshminarayanan, MD and chief executive, Tata Communications said in a statement.
While Digo is present in India and the APAC region significantly, Kaleyra’s business stronghold is markets like Italy (18.3% in Q12023) and the United States (53.7%), and has presence in India (13.2%) as well.
Digo is actively pursuing the US and European markets and will be helped by the scale of operations that Kaleyra already has in these, Lakshminarayanan added.
Source: Economic Times