Tata Communications, that handles the data center business of the Tata Group, has finished the acquisition of Kaleyra, a US-based global CPaaS platform. In June this year, the two companies had entered into an agreement with respect to this acquisition. The transaction has now been completed upon receipt of the approval by Kaleyra’s stockholders, necessary regulatory approvals, and fulfilment of other customary closing conditions.
Tata Communications offers managed infrastructure services that includes managed hosting services, managed storage & backup, global colocation solutions. Its end users hail from industries as diverse as automotive, manufacturing, retail, banking and financial services etc. Meanwhile, Kaleyra offers an API-based platform for its end users to engage their clients in turn using personalized messages, chatbots, programmable voice services, and more.
According to a statement released by Kaleyra, under the terms of the agreement, Tata Communications Limited has paid an aggregate consideration of approximately US$ 100 million in cash and assumed all of Kaleyra’s outstanding debt. With this, Kaleyra, Inc. and its subsidiaries have now become wholly owned subsidiaries of Tata Communications Limited.
A.S. Lakshminarayanan, MD and CEO, Tata Communications, said, “We at Tata Communications are committed to revolutionise how businesses engage with customers, leveraging a digital fabric to harness data insights for delivering seamless, secure, smart and impactful customer interactions. We’re thrilled to welcome Kaleyra in this journey, as together we pave the way for the future of customer experience!”
Mysore Madhusudhan, Executive Vice President, Collaboration and Connected Solutions, Tata Communications added, “In this digital age, businesses require multi-channel customer engagement solutions built for intuitive, intelligent and automated interactions. Together, Tata Communications and Kaleyra form a powerful combination, poised to shape the customer engagement platforms of tomorrow.”
Dr. Avi Katz, Founding Managing Partner of GigCapital Global said, “As the Chairman of the Board of Directors of Kaleyra since inception in November 2019 by way of combination with GigCapital, Inc., I am delighted to see this outcome for the Kaleyra team and its stakeholders. This acquisition reflects a global recognition of the leadership of Kaleyra in the CPaaS industry, fruits of hard work of the entire Kaleyra team for the last four years and excellent relationship with Tata Communications.”