Tata Communications To Acquire Kaleyra in USD 100 Million cash deal

30 Jun 2023 , 02:54 PM

Tata Communications has announced its acquisition of US-based enterprise messaging firm Kaleyra in an all-cash deal worth approximately USD 100 million.

The acquisition will be a cash-only transaction at a price per share of USD 7.25, totaling approximately USD 100 million and including the assumption of all outstanding debt. Tata Communications expects to gain a robust and scalable platform through this acquisition, strengthening its capabilities.

Tata Communications will benefit from Kaleyra’s Tier 1 carrier connections in the US, ready connectors to third-party platforms, and video services without additional software plug-ins. The acquisition aims to develop intelligent, intuitive, and innovative multi-channel communication solutions for Tata Communications’ customers.

Tata Communications has a large base of enterprise customers worldwide, including 300 Fortune 500 companies, mobile network operator connections, and global expansion opportunities.

Kaleyra reported revenue of USD 339.2 million for the full year ended December 31, 2022. Kaleyra’s founder and CEO, Dario Calogero, expressed excitement about the acquisition and highlighted the company’s growth journey from a small Italian startup to a publicly listed NYSE company, now partnering with Tata Communications.

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