Kaleyra, Inc. (KLR) has signed a definitive agreement to acquire mGage, a global mobile messaging provider for $215 million in cash and Kaleyra common stock. The consideration will consist of cash in the amount of $195 million and 1.6 million shares of Kaleyra common stock.
mGage, a Vivial company, is a mobile messaging solution allowing enterprise clients across a diverse range of end-markets to effectively engage with their customers through all mobile channels for a variety of use cases.
Dario Calogero, Kaleyra's CEO, said: "This combination will accelerate and expand Kaleyra's opportunity to serve the CPaaS market which is expected to reach $26 billion in 2025 with a compound annual growth rate of 35% and consolidate the A2P Enterprise messaging market which is expected to reach $78 billion in 2022. We expect, on a pro forma basis, the new Kaleyra to generate more than $350 million in revenue for fiscal year 2021, increased scale, an enhanced margin profile and robust free cash flow."
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