Tata Communications completes acquisition of Kaleyra, a leading global CPaaS platform player. GigCapital's first portfolio project reaches a brilliant conclusion.(Read More)
On 28th June 2023, Tata Communications had entered into a definitive agreement with Kaleyra, Inc. to acquire it through Tata Communications Limited. The transaction has now been completed upon receipt of the approval by Kaleyra’s stockholders, necessary regulatory approvals, and fulfilment of other customary closing conditions. Under the terms of the agreement, Tata Communications Limited has paid an aggregate consideration of approximately $100 million in cash and assumed all of Kaleyra’s outstanding debt. With this, Kaleyra, Inc. and its subsidiaries have now become wholly owned subsidiaries of Tata Communications Limited.
The combination of Tata Communications customer engagement solutions and Kaleyra’s stronghold in technology, engineering and research & development will drive growth of global enterprises powered by hyper-personalised and intelligent customer interactions.
Dr. Avi Katz, Founding Managing Partner of GigCapital Global said: “As the Chairman of the Board of Directors of Kaleyra since inception in November 2019 by way of combination with GigCapital, Inc., I am delighted to see this outcome for the Kaleyra team and its stakeholders. This acquisition reflects a global recognition of the leadership of Kaleyra in the CPaaS industry, fruits of hard work of the entire Kaleyra team for the last four years and excellent relationship with Tata Communications.”
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Kaleyra Highlights
Dr. Avi Katz
Dr. Avi Katz, GigCapital’s Founder, Chairman and CEO, has spent more than 30 years holding international managerial and executive positions in the high-technology sector. He is a serial entrepreneur and angel investor with decades of experience working for companies of every size, from start-ups to global enterprises. Throughout his career, Dr. Katz has facilitated leadership team building, large-scale fundraising, initial and secondary public offering, the development of alliances and tech partnerships, mergers and acquisitions, and almost every other facet of business and financial operations.
In addition to his work at GigCapital, Dr. Katz is also the Founding Managing Member of GigAcquistions, LLC; GigFounders, LLC; and GigNext, LLC. Previously, Dr. Katz bootstrapped in 2007 GigOptix / GigPeak. Inc., took the company public in 2008 (NYSE: GIG), and led its growth as Chairman, CEO, and President through organic and strategic growth through rollup of 10 M&A deals during that time. He sold the company in April 2017 for $250 million all-cash to Integrated Device Technology (NASDAQ: IDT).
Dr. Katz is a graduate of the Israeli Naval Academy and holds both a B.Sc. and a Ph.D. in Semiconductors Materials Engineering from the Technion, the Israeli Institute of Technology. He has authored more than 70 U.S. and international patents, has published more than 300 technical papers, and is the editor of a number of technical books.
John Mikulsky
GigCapital’s Strategic Advisor John Mikulsky is no stranger to leadership. Throughout his career, Mr. Mikulsky has led commercialization efforts for numerous products and industries, among them aerospace, automotive electronics, analytical chemistry, telecom infrastructure, and more. A highlight of his career has been guiding teams in taking nascent product concepts from early development to articles of commerce, generating significant revenues.
Mr. Mikulsky began his career at Raychem, where he held a number of increasingly significant positions including Division Manager. After Raychem, he joined Balazs Labs (now part of Air Liquide), where he developed and patented specialized analytical processes and equipment for the semiconductor and disk drive industries. Later, he joined Endgate, later re-named Endwave, a venture-backed company in the millimeter-wave radio space, and held the positions of President and CEO when the company was sold to GigPeak in 2011. Subsequent to that sale, he joined the GigPeak Board of Directors.
Currently, he consults with venture-funded startup teams and sits on the boards of both public and private companies. Mr. Mikulsky holds a BSEE from Marquette University, an MSEE from Stanford University, and an SM in Management from the Sloan School of Management at MIT.
Neil Miotto
Neil Miotto spent 27 years as an assurance partner at KPMG, LLP before his retirement in September 2006. While at KPMG he advised clients on numerous acquisitions and sales of assets, helping to facilitate these transactions, as well as consulting on debt offerings and IPOs. In his role as Assurance Partner, Mr. Miotto focused on serving large public companies, primarily semiconductor companies, and contract manufacturers.
Mr. Miotto also served as an SEC reviewing partner while at KPMG. Since his retirement, Mr. Miotto has stayed busy, providing high-level financial consulting services to companies in need of timely accounting assistance and serving on public company boards. He is deemed a “financial expert” as defined by SEC and NYSE rules.
He served on the Board of Directors of Micrel, Inc. from 2007 to 2015, and was also a member of the board of GigPeak, Inc. from 2008 until its sale in April 2017. Mr. Miotto is a member of the American Institute of Certified Public Accountants. He holds a Bachelor of Business Administration degree from Baruch College, part of The City University of New York (CUNY).