M&A
Tata Communications to buy US co Kaleyra for $100-M; take over debt
Tata Communications is to acquire Atlanta, Georgia-headquartered, NYSE-listed communication platform service provider Kaleyra, Inc. for USD 100 million. The company will also acquire Kaleyra's gross debt of USD 224.9 million and net debt of USD 149.9 million as on March 31, 2023. Most of the debt is related to older acquisitions done by Kaleyra. Kaleyra is an omnichannel integrated communication services provider across the world with a set of proprietary platforms, offering targeted personalisation through messaging, video, push notifications, e-mail and voice-based services, and chatbots. Tata Communications' product Digo, launched last year, and Kaleyra's offerings are claimed to have geographical complementarity making the acquisition attractive. While Digo is present in India and the APAC region significantly, Kaleyra has a strong presence in Italy (18.3%) and the US (53.7%). It also has a presence in India (13.2%).
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