Tata Communications has announced that it will acquire Kaleyra Inc. for a value of $100 million. This would also mean that Kaleyra’s gross debt of $224.9 million and net debt of $149 million will be taken over by the former as well.
With the expectation of growth in the SMS enterprise, the non-SMS segment ( as part of communication platform as a service ) is also expected to grow significantly. According to Tata Communications, its product Digo and Kaleyra’s offerings made the acquisition more attractive.
The transaction has been approved by the boards of directors of both Tata Communications and Kaleyra. Upon the closing of the transaction, expected in six to nine months, Kaleyra Inc will become a subsidiary of Tata Communications Limited.
