Deal brings Tier 1 carrier connections in US, ready connectors to third party platforms
Tata Communications has entered into an estimated US$100 million definitive agreement to acquire a global omnichannel integrated communication services provider Kaleyra, Inc. (NYSE: KLR) to empower global enterprises to offer personalised experiences to their customers.
Tata Communications has agreed to acquire New York-headquartered Kaleyra in a cash only transaction, at a price per share of US$7.25 for a total consideration to Kaleyra shareholders of approximately US$100 million and the assumption of all outstanding debt.
Kaleyra is a set of proprietary platforms, offering targeted personalisation through messaging, video, push notifications, e-mail and voice-based services, and chatbots.
Established 24 years ago, Kaleyra has grown from a small Italian startup, to globally-linked and NYSE-listed company with US$339.2 million as end of 31 Dec 2022, up 26.7% on the year.
With this transaction, Tata Communications will gain an industry-proven platform with strong capabilities and scale.
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.
Tata Communications will also benefit from Tier 1 carrier connections in the US, ready connectors to third party platforms, and video services without the need for additional software plugins.
This transaction has been unanimously approved by the Boards of Directors of both Tata Communications and Kaleyra. Consummation of the deal is subject to approval by Kaleyra’s stockholders, certain regulatory approvals and other customary closing conditions.
Upon closing of the transaction, expected in six to nine months, Kaleyra will become a subsidiary of Tata Communications Limited.
“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. Fiinews.com
