NEW YORK and MUMBAI, India, Oct. 5,
2023 /PRNewswire/ -- Tata Communications, a global
digital ecosystem enabler, today announces completion of the
acquisition of Kaleyra, Inc. (NYSE: KLR).
On 28th June 2023, Tata
Communications had entered into a definitive agreement with
Kaleyra, Inc. to acquire it through Tata Communications Limited.
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. Under the terms
of the agreement, Tata Communications Limited 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 Limited.
The combination of Tata Communications customer engagement
solutions and Kaleyra's stronghold in technology, engineering and
research & development will drive growth of global enterprises,
powered by hyper-personalised and intelligent customer
interactions.
"In today's hyperconnected world, customer success and loyalty
are pivotal to enterprise growth across industries and
geographies," said A.S. Lakshminarayanan, MD and CEO,
Tata Communications. "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."
Mauro Carobene, Head of
Customer Interaction Suite, Tata Communications, commented,
"Together Kaleyra and Tata Communications stand on the brink of a
new era, powered by the world-class communications capabilities of
Kaleyra.io platform and a determination to drive the future of
communications via our intelligent suite of customer interaction
solutions. Our joint aspirations are massive, not only in terms of
growth, but also in expanding our portfolio that drives value for
our customers."
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
GigCapital1, 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 Kalyera team
for the last four years and excellent relationship with Tata
Communications."
About Kaleyra
Kaleyra, Inc. (NYSE: KLR) (NYSE American: KLR WS) is a global
group providing mobile communication services to financial
institutions, e-commerce players, OTTs, so
ftware companies, logistic enablers, healthcare providers,
retailers, and other large organizations worldwide. Through its
proprietary platform and robust APIs, Kaleyra manages multi-channel
integrated communication services, consisting of messaging, rich
messaging and instant messaging, video, push notifications, e-mail,
voice services, and chatbots.
Kaleyra's technology makes it possible to safely and securely
manage billions of messages monthly with over 1600 operator
connections in 190+ countries, including all tier-1 US carrier.
About Tata Communications
A part of the Tata Group, Tata Communications (NSE: TATACOMM;
BSE: 500483) is a global digital ecosystem enabler powering
today's fast-growing digital economy in more than 190
countries and territories. Leading with trust, it enables digital
transformation of enterprises globally with collaboration and
connected solutions, core and next gen connectivity, cloud hosting
and security solutions and media services. 300 of the Fortune 500
companies are its customers and the company connects
businesses to 80% of the world's cloud giants. For more
information, please visit www.tatacommunications.com
Kaleyra's Statutory Information
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. Such forward-looking
statements include, but are not limited to, its omnichannel and
other product and global customer developments, its expectations,
beliefs, intentions, plans, prospects or strategies regarding the
business plans of Kaleyra, Inc.'s ("Kaleyra") management team. Any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. In addition,
any statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intends," "may," "might," "plan," "possible," "potential,"
"predict," "project," "should," "would" and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. The
forward-looking statements contained in this press release are
based on certain assumptions and analyses made by Kaleyra in light
of its experience and perception of historical trends, current
conditions and expected future developments and their potential
effects on Kaleyra as well as other factors they believe are
appropriate in the circumstances. There can be no assurance that
future developments affecting Kaleyra will be those anticipated.
These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond the control of the parties)
or other assumptions that may cause actual results or performance
to be materially different from those expressed or implied by these
forward-looking statements, including the mix of services utilized
by Kaleyra's customers and such customers' needs for these
services, including any variability by geography, market acceptance
of new service offerings, the ability of Kaleyra to expand what it
does for existing customers as well as to add new customers, that
Kaleyra will have sufficient capital to operate as anticipated, and
the impact that geopolitical and macroeconomic factors such as the
war in Ukraine, may have on
Kaleyra's operations, the demand for Kaleyra's products, global
supply chains and economic activity in general. Additional risk
factors that that may cause such a difference include, but are not
limited to: (i) the ability of Kaleyra and Tata Communications to
timely and successfully achieve the anticipated benefits of the
proposed transaction; (ii) significant transaction costs associated
with the proposed transaction; (iii) potential litigation relating
to the proposed transaction; (iv) the risk that disruptions from
the proposed transaction will harm Kaleyra's business, including
current plans and operations; (v) the ability of Kaleyra to retain
and hire key personnel; (vi) potential adverse reactions or changes
to business relationships resulting from the announcement or
completion of the proposed transaction; (vii) legislative,
regulatory and economic developments affecting Kaleyra's business;
(viii) general economic and market developments and conditions;
(ix) the evolving legal, regulatory and tax regimes under which
Kaleyra operates; and (x) potential business uncertainty, including
changes to existing business relationships, during the pendency of
the merger that could affect Kaleyra's financial performance.
Therefore, you should not place undue reliance on any such
statements and caution must be exercised in relying on
forward-looking statements. Should one or more of these risks or
uncertainties materialize or should any of the assumptions being
made prove incorrect, actual results may vary in material respects
from those projected in these forward-looking statements. We
undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
Tata Communications Statutory Information
Forward-looking and cautionary statements
Certain words and statements in this release concerning Tata
Communications and its prospects, and other statements, including
those relating to Tata Communications' expected financial position,
business strategy, the future development of Tata Communications'
operations, and the general economy in India, are forward-looking statements. Such
statements involve known and unknown risks, uncertainties and other
factors, including financial, regulatory and environmental, as well
as those relating to industry growth and trend projections, which
may cause actual results, performance or achievements of Tata
Communications, or industry results, to differ materially from
those expressed or implied by such forward-looking statements. The
important factors that could cause actual results, performance or
achievements to differ materially from such forward-looking
statements include, among others, failure to increase the volume of
traffic on Tata Communications' network; failure to develop new
products and services that meet customer demands and generate
acceptable margins; failure to successfully complete commercial
testing of new technology and information systems to support new
products and services, including voice transmission services;
failure to stabilize or reduce the rate of price compression on
certain of the company's communications services; failure to
integrate strategic acquisitions and changes in government policies
or regulations of India and, in
particular, changes relating to the administration of Tata
Communications' industry; and, in general, the economic, business
and credit conditions in India.
Additional factors that could cause actual results, performance or
achievements to differ materially from such forward-looking
statements, many of which are not in Tata Communications' control,
include, but are not limited to, those risk factors discussed in
Tata Communications Limited's Annual Reports.
The Annual Reports of Tata Communications Limited are available
at www.tatacommunications.com. Tata Communications is under no
obligation to, and expressly disclaims any obligation to, update or
alter its forward-looking statements.
© 2023 Tata Communications Ltd. All rights reserved.
TATA COMMUNICATIONS and TATA are trademarks or registered
trademarks of Tata Sons Private Limited in India and certain countries.
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