Homegrown CPaaS firm Tanla to acquire ValueFirst for Rs 346 crore from Twilio

NEW DELHI: Homegrown communications platform-as-a-service (CPaaS) provider Tanla Platforms on Thursday said it is acquiring ValueFirst from US-based Twilio in a Rs 346 crores ($42 million) all-cash deal to strengthen its leadership in India’s cloud communications space.

To this effect, Tanla has signed a definitive share purchase agreement to acquire ValueFirst, “subject to upward closing adjustments in the range of $2.5 million – $3.5 million”, according to a regulatory filing by the Hyderabad-based company. The acquisition is expected to close in July 2023.

Separately, Tanla has also signed a binding term sheet to acquire ValueFirst Middle East FZC for a cumulative consideration of Rs 20 crores through a combination of primary investment and a secondary purchase from the existing shareholders, subject to closing conditions, to strengthen its global footprint.