Tanla Platforms Ltd, a Communication Platform-as-a-Service (CPasS) firm, has signed an agreement to acquire ValueFirst Digital Media Private Ltd from Twilio, a US-based customer engagement platform, for $42 million (about ₹346 crore).
The acquisition is expected to close in July. The firm also signed a binding term sheet to acquire ValueFirst Middle East FZC for a consideration of ₹20 crore.
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“ValueFirst Middle East FZC has presence in the UAE, Saudi Arabia and Indonesia markets and gives Tanla a strong global footprint. This acquisition is expected to close by September 2023,” the company informed the Bombay Stock Exchange on Thursday.
ValueFirst is one of the oldest CPaaS players in India. “The acquisition of ValueFirst will further strengthen Tanla as a market leader in the Indian CPaaS space with a market of share of over 35 per cent. In the SMS segment, Tanla will further strengthen its revenue market share to about 45 per cent,” it said.