Twilio, a San Francisco based cloud communications platform as a service company has acquired ValueFirst, a Communications Platform as a Service (CPaaS) player based in Gurugram, Haryana. Also Read: Roku to acquire Nielsen’s advanced video advertising division
Broad view: Twilio entered the Indian market in April 2020 amid the COVID-19 pandemic and launched its India Development Center in Bengaluru. The acquisition of ValueFirst could help Twilio to power the next wave of customer engagement in the country by making use of available opportunities in the areas of messaging, conversational AI, and mar-tech.
The acquisition will also help Twilio to strengthen its presence and connectivity with Indian mobile operators while consolidating a relationship with customers. Both the companies plan to share knowledge, insights, and connections and grow the market. Also Read: Apple patent: Future devices may be built using processed titanium with anti-smudge coating
Details: The financial details of the transaction were not disclosed by the companies. Anand Rathi Advisors represented ValueFirst as the exclusive adviser on the transaction.
- ValueFirst is one of the largest message aggregators in India and processed over 42 billion SMS messages in the last fiscal year.
- New Enterprise Associates (NEA), a global venture capital firm, is an investor in ValueFirst and holds a 31.89% stake in the company.
History: Founded in 2003, ValueFirst is one of the biggest CPaaS players in India and counts companies like Google, IndiGo, TATA Motors, P&G, InfoEdge and Axis Bank as its clients. The company connects businesses with consumers over telecom (SMS & Voice) and internet (Chatbots, Email & OTT) channels.
What they’re saying: Doug Garland, Senior Vice President of Strategic Business Development at Twilio said, “Together, we are excited to accelerate our position in an important market and turbocharge our combined success.”
Vishwadeep Bajaj, ValueFirst’s CEO & Founder said, “We’re obsessed with customer centricity and helping businesses have joyful conversations. Twilio and ValueFirst share very similar values. Twilio’s trusted brand, services, and global reach will enable us to service our customers in more meaningful ways.”