Tata Communications agrees to acquire Kaleyra for $7.25 per share

In a notice to the National Stock Exchange of India, Tata Communications communicated that it has entered into an agreement to acquire Kaleyra, a company incorporated under the laws of the State of Delaware, United States of America, and listed on the New York Stock Exchange. “The proposed transaction is also subject to satisfactory completion of the conditions precedent as stipulated in the transaction documents, including regulatory and other approvals as may be necessary and expedient,” the filing stated. “The consideration payable to the shareholders of Kaleyra Inc. is equal to $7.25 per share of Kaleyra common stock. The aggregate consideration is expected to be around $100M, as may be adjusted by any payments required to Kaleyra warrant holders or holders of restricted stock units which vest upon change of control. Additionally, Kaleyra Inc. will be acquired with a debt in its books. Kaleyra Inc. has a Gross debt of $224.9M and Net debt of $149.9M as on March 31,” the notice stated.