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Tanla set to buy ValueFirst Group
Hyderabad: City-based enterprise messaging firm Tanla said it will acquire peer ValueFirst and its subsidiaries in an all-cash deal ranging up to...
Hyderabad: City-based enterprise messaging firm Tanla said it will acquire peer ValueFirst and its subsidiaries in an all-cash deal ranging up to Rs395 crore.Tanla will acquire 100 per cent stake in ValueFirst Digital Media Private Ltd from US-headquartered Twilio for an all-cash consideration of $42 million (Rs346 crore), subject to upward closing adjustments in the range of $2.5-3.5 million (Rs20-29 crore), Tanla said in a filing on Thursday.
The acquisition is expected to close in July 2023. It will also acquire ValueFirst Middle East FZC for a cumulative consideration of Rs 20 crore through a combination of primary investment and a secondary purchase from the existing shareholders, subject to closing conditions, according to the filing. The acquisition of ValueFirst Middle East FZC is expected to close by September 2023.
“Acquisition of ValueFirst will further strengthen our undisputed market leadership in India. We only believe in purposeful acquisitions and have had an incredible track record with Karix acquisition, which has seen 20 times EBITDA growth over the last 5 years.
