HYDERABAD, India, Aug. 30, 2019 /CNW/ --
- Tanla Solutions Limited today signed a definitive share purchase agreement to acquire 100% of Gamooga at an enterprise value of Rs.48.5 Crore.
- Gamooga will receive a cash payment of Rs 31.5 Crore. This will be funded from Tanla's internal accruals. Gamooga will be issued a further Rs. 17 Crore worth of Tanla stock at a price of Rs. 80 per Equity share
- This acquisition is expected to close by October 2019 and is subject to approval from Tanla's Shareholders and regulators, if any.
Tanla Solutions Limited, (NSE: TANLA) (BSE: 532790), one of the largest cloud communication providers in the world, today announced a definitive agreement to acquire a leading Big data, AI driven Customer Data and Marketing Automation Platform – Gamooga. This is the 2nd acquisition Tanla has made in the last four months. Acquisition of Karix Mobile and Gamooga now will position Tanla as the end-to-end solution provider for global enterprises including the existing 1500+ enterprise customers, to solve every imaginary use case and problem of customer experience.
Uday Reddy, Tanla Solution's Chairman and Managing Director, said, "Gamooga is a great addition to our overall growth plan. Its marketing technology stack powered by big data and artificial intelligence will enable us to offer end-to-end customer experience suite to our growing enterprise customer base and shall reinforce our position as market leaders."
Founder of Gamooga, Kishore A commented, "Gamooga is excited to be part of Tanla as we share a common vision of working towards elevating customer experiences. Enterprises today demand personalized customer experience in real-time and Gamooga's Big Data, AI driven Automation Platform can deliver relevant, on‐point customer experiences."
About Tanla Solutions
Tanla is a Hyderabad, India-based company, established in 1999. It is a global leader in its domain as one of the largest Cloud Communication providers, handling over 200 bn business communications annually. Tanla is innovating the way the world communicates, continuously raising the bar through enhanced speed, ease, and simplicity of Cloud Communication solutions, adopting cutting-edge technologies to meet the needs of a diverse clientele, from enterprises to carriers across geographies.
Gamooga is a big data and AI driven omni-channel marketing automation platform which enables businesses personally engage with their users across channels including email, SMS, voice, website, apps and other leading channels. Visit gamooga.com
Forward-Looking Statements Disclosure
This press release contains 'forward-looking statements' that are based on our current expectations, assumptions, estimates and projections about Tanla Solutions Limited (the "Company"), our industry, economic conditions in the markets in which we operate, and certain other matters. All forward-looking statements are based on information available to us on the date hereof, and we do not undertake to update these forward-looking statements to reflect future events or circumstances unless required to do so by law.
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SOURCE Tanla Solutions Ltd