Tata Communications To Acquire US Firm Kaleyra For $100 Million
Kaleyra, a US-based workplace messaging company, will be acquired by Tata Communications for $100 million in cash, the company announced.With a number of unique platforms, Kaleyra offers integrated communication services with targeted personalization via messaging, video, push notifications, email, voice-based services, and chatbots.
According to the announcement, Tata Communications would obtain an established platform with great capabilities and scale through this deal.
"Upon closing of the transaction, expected in six to nine months, Kaleyra Inc will become a subsidiary of Tata Communications Limited," it said.
In addition to a staff with experience in technology, engineering, and research and development, Kaleyra asserts to have a significant position in the business communications sector in the banking and financial services, retail, and digital commerce industries across worldwide marketplaces.According to the announcement, Tata Communications will also profit from connections to Tier 1 carriers in the US, ready connectors to third-party platforms, and video services that don't require additional software plug-ins.
"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," Tata Communications MD and CEO AS Lakshminarayanan said.
The emerging company will take advantage of Tata Communications' substantial global enterprise customer base, which includes 300 Fortune 500 organizations, relationships with mobile network operators, and potential for international expansion.Kaleyra recorded revenue of USD 339.2 million for the entire year that concluded on December 31, 2022.