Tata Communications, a digital ecosystem enabler, has announced the completion of the acquisition of Kaleyra, Inc.
On June 28, 2023, Tata Communications entered into a definitive agreement with Kaleyra, Inc. to acquire it. 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.
Kaleyra is a global group providing mobile communication services to financial institutions, e-commerce players, OTTs, software companies, logistic enablers, healthcare providers, retailers, and other large organisations worldwide.
Under the terms of the agreement, Tata Communications has paid an aggregate consideration of approximately $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 Ltd.
AS 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!”
The combination of Tata Communications customer engagement solutions and Kaleyra’s stronghold in technology, engineering, and research & development will drive the growth of global enterprises, powered by hyper-personalized and intelligent customer interactions, said the company.
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.”