Tata Communications to acquire Kaleyra for $7.25 per share, or $100M

Tata Communications announces it has entered into a definitive agreement through Tata Communications Limited to acquire Kaleyra to empower global enterprises to offer personalised experiences to their customers. Under the terms of the agreement, Tata Communications has agreed to acquire Kaleyra in a cash only transaction, at a price per share of $7.25 for a total consideration to Kaleyra shareholders of approximately $100M and the assumption of all outstanding debt. This transaction has been unanimously approved by the Boards of Directors of both Tata Communications and Kaleyra. Consummation of the deal is subject to approval by Kaleyra’s stockholders, certain regulatory approvals and other customary closing conditions. Upon closing of the transaction, expected in six to nine months, Kaleyra Inc. will become a subsidiary of Tata Communications Limited.