Tanla Solutions Limited (NSE: TANLA) (BSE: 532790), a Hyderabad, India-based cloud communication provider, is to acquire Gamooga, a provider of Big data, AI driven customer data and marketing automation platform.
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
The deal is expected to close by October 2019 and is subject to approval from Tanla’s Shareholders and regulators, if any.
With the acquisition, – This is the second purchase Tanla has made in the last four months following Karix Mobile – the company forays into the marketing automation industry.
Established in 1999 by Uday Reddy, Chairman and Managing Director, Tanla Solution is a global Cloud Communication provider, handling over 200 bn business communications annually for enterprises and carriers across geographies.
Led by Founder Kishore A, 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 channels.