- With Gamooga, Tanla Solutions forays into fast-growing Marketing Automation industry
Key Highlights
- 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
- This acquisition is expected to close by October 2019 and is subject to approval from Tanla's Shareholders and regulators, if any.
Tanla Solutions Limited, (NSE: TANLA) (BSE: 532790), one of the largest cloud communication providers in the world, today announced a definitive agreement to acquire a leading Big data, AI driven Customer Data and Marketing Automation Platform - Gamooga. This is the 2nd acquisition Tanla has made in the last four months. Acquisition of Karix Mobile and Gamooga now will position Tanla as the end-to-end solution provider for global enterprises including the existing 1500+ enterprise customers, to solve every imaginary use case and problem of customer experience.
Uday Reddy, Tanla Solution's Chairman and Managing Director, said, "Gamooga is a great addition to our overall growth plan. Its marketing technology stack powered by big data and artificial intelligence will enable us to offer end-to-end customer experience suite to our growing enterprise customer base and shall reinforce our position as market leaders."
Founder of Gamooga, Kishore A
