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The acquisition of ValueFirst will further strengthen Tanla as an undisputed market leader in the Indian CPaaS space with more than 35% share. In SMS, Tanla will further strengthen its revenue market share to around 45%. In addition, this acquisition will help scale other key channels like WhatsApp with a sizable approximately 15% share.
The company will acquire VF Digital India for cash consideration of $42 million (Rs 346 crore), subject to upward closing adjustments in the range of $2.5 million - $3.5 million). The proposed acquisition is estimated to be completed in July, 2023.
Further the company has also signed binding term sheet to acquire 100% stake in 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.
ValueFirst Middle East FZC has presence in UAE, Saudi Arabia and Indonesia markets and gives Tanla a strong global footprint. This acquisition is expected to be close by September 2023.
The acquisition of ValueFirst Middle East FZC will provide a complementary geography footprint giving Tanla strong momentum in Saudi and Indonesia and a critical mass of 10% market share in UAE. These are large markets with a total addressable market of approximately Rs 20,000 crore. Leading ValueFirst solutions will be leveraged to drive at-scale impact in these geographies.
Uday Reddy, founder chairman & CEO, Tanla Platforms, said, ?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 20x EBITDA growth over the last 5 years.
Vishwadeep Bajaj, CEO & founder of ValueFirst, said, ?I am very excited to join Tanla, the largest CPaaS player in India and I am confident that we will benefit from significant synergies and scale to address the needs of our enterprises better. I would like to thank Twilio for their support to growing our business over the past couple of years.?
Tanla Platforms, one of the world's largest CPaaS players, processes more than 800 billion interactions annually and about 63% of India's A2P SMS traffic is processed through its distributed ledger platform
Tanla Platforms' consolidated net profit slipped 14.47% to Rs 120.27 crore on 2.29% decline in revenue from operations to Rs 833.48 crore in Q4 FY23 over Q4 FY22.
The scrip rose 0.16% to Rs 839.80 on the BSE.
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