Tanla Solutions Limited, (NSE:TANLA, BSE:532790), one of the largest cloud communication providers in the world, today announced a definitive agreement to acquire Karix Mobile Private Limited and its affiliate, a leading mobile engagement and communication provider from GSO at an enterprise value of INR 340 Crore. This acquisition accelerates Tanla’s growth strategy and deepens its enterprise reach.
Globally, enterprises increasingly rely on cloud communication services as part of their digital transformation strategy. This acquisition will be instrumental in strengthening Tanla’s position as a leading Cloud communication services provider.
Mumbai-based Karix Mobile Private Limited is a leading business cloud communications provider with reach to over 1,500 enterprise clients in various industries across the country. With this transaction, the combined company will be one of India’s leading enterprise cloud communications providers with marquee customers in banking, insurance, automotive, DTH, retail, consumer products, e-commerce, m-commerce, and the government.
This strategic acquisition leverages Tanla’s strong telecom carrier partnerships and Karix’s enterprise selling expertise to build a rationalized yet comprehensive solutions portfolio that can quickly generate revenues & reduce go-to-market timelines.
Uday Reddy, Tanla Solution’s Chairman and Managing Director, said: “Tanla is excited to be partnering with Blackstone as we continue to grow the company. Karix is an ideal strategic fit furthering our stated objective of adding diverse and high value customer base and business, capable technocrats and incremental financial scale. Our combined entity will unarguably be a Cloud Communications behemoth with innovation led offerings in the Digital space for our partners and clients alike.”
Jason New, Senior Managing Director of Blackstone, said: “We are delighted to realise part of our investment and look forward to supporting the company in its next phase of growth with Tanla.”
Jay Sheth, CEO of Karix, said: “We are very pleased with the announcement of this deal. “The combined strength of Karix and Tanla will afford our enterprise customers a single source for a comprehensive suite of communications services, and an assurance that their future emerging requirements will be met timely.”
Deepak Goyal, COO of Karix, said: “This strategic integration will also provide new and exciting opportunities for our talented employees as they become part of the undisputed market leader.”
Tanla is excited to be partnering with GSO as we continue to grow the company.
Both Tanla and Karix will synergize to up-sell & cross-sell offerings to enterprises and mobile carriers.