Tata Communications Acquiring Kaleyra, Formerly Ubiquity That Acquired Indian Startup in 2016

Tata Communications, a global digital ecosystem enabler, on Wednesday announced that it has entered into a definitive agreement through Tata Communications Limited to acquire NYSE listed Kaleyra, Inc. in a cash only transaction, at a price per share of USD 7.25 for a total consideration to Kaleyra shareholders of approximately USD 100 million and the assumption of all outstanding debt.

Kaleyra is a New York-headquartered global Communications Platform as a Service (CPaaS) company, with a set of proprietary platforms, offering targeted personalisation through messaging, video, push notifications, e-mail and voice-based services, and chatbots.

Interestingly, Kaleyra was previously known as Ubiquity which was rebranded to Kaleyra after 2 years of making acquisition of the Bengaluru, India-based CPaaS startup "Solutions Infiniti" in 2016. Founded in 1999 as Ubiquity in Italy by Dario Calogero, Kaleyra was earlier an Italian firm which became a listed company in NYSE America (NYSE:KLR) in November 2019.

Led by Solutions Infinity co-founder Ashish Agarwal Kaleyra transitioned into the US capital markets as a public company.

Solutions Infini was founded in 2009, by Aniketh Jain and Ashish Agarwal. It was in October 2016 when the Bengaluru based startup announced that the-then Ubiquity had acquired 51% stake in it, for an undisclosed amount, and later in June 2018 both the entities announced merger as well as rebranding to Kaleyra, with India's Solutions Infiniti founders picking up minor stakes in Kaleyra group.

More interestingly, before acquiring Solutions Infini, Ubiquity was also a strategic investor itself in the Bengaluru-based startup.

So, Kaleyra, formerly Ubiquity (Italy), which once acquired Indian Startup, will be a part of Indian conglomorate Tata Group's Tata Communications.

Upon closing of the transaction, expected in six to nine months, Kaleyra Inc. will become a subsidiary of Tata Communications. 


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