ANI
14 Jan 2022, 19:18 GMT+10
Bengaluru (Karnataka) [India], January 14 (ANI/NewsVoir): Truecaller, the leading global platform for verifying contacts and blocking unwanted communications, has entered into an agreement to acquire the Israeli company CallHero (CallHero has developed a unique technical solution for both Android and iPhone, with an AI-enabled assistant. CallHero's assistant can answer calls for you in a natural language, take messages for you and even block your calendar. The feature will be integrated into Truecaller in a phased manner.
"CallHero gives the user intelligent support in handling incoming calls with the help of an AI-based assistant who answers the call. The conversation between the caller and the assistant is visible in text-based format, live in the app. This service will help our users prioritize what is relevant and important without having to talk. The technology that CallHero is going to strengthen our offering. The service will start in the US first since that's where CallHero operated but our ambition is of course to roll out the service in all our markets, including India. CallHero today has a well-developed advanced functionality for iPhone users, which is important in the western world, but also a valuable complement to our work to make Truecaller more efficient and user-friendly for both iPhone and Android users worldwide," said Alan Mamedi, CEO and Co-founder of Truecaller.
The agreed purchase price amounts to USD 4.5 million, of which USD 2.6 million will be paid in cash upon completion of the acquisition and USD 1.9 million through newly issued shares in Truecaller. The purpose of the issue of new shares is to strengthen the long-term commitment to Truecaller for certain key persons at CallHero.
In addition, a potential additional purchase price of a maximum of USD 2 million will be paid, provided that certain goals are achieved for a period of up to four years after the transaction is completed. Completion of the acquisition is subject to customary closing conditions and is expected to be completed during the first quarter of 2022. The acquisition will be financed through existing cash and newly issued shares in Truecaller AB. The acquisition is primarily a technology and competence acquisition and is not considered to have a material impact on the results in 2022.
For more information, please contact: press@truecaller.com.
We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for over 300 million active users, with half a billion downloads since launch and close to 38 billion unwanted calls identified and blocked in 2021.
Headquartered in Stockholm, since 2009, we are a Co-founder-led, entrepreneurial company, with a highly experienced management team. Truecaller has been listed on Nasdaq Stockholm since 8 October 2021.
For more information, please visitThis story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
Get a daily dose of Milwaukee Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Milwaukee Sun.
More InformationZAGREB, Croatia: Authorities have said that a weekend bus crash near Varazdin in Croatia killed 12 passengers and injured 32.The ...
WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
WASHINGTON D.C.: Providing relief to drivers in the United States, the average retail gasoline price in the US fell below ...
The last time Gerrit Cole appeared on the mound at Yankee Stadium, his teammates faced a six-run deficit before taking ...
Tampa Bay's Drew Rasmussen pitched a perfect game for eight innings and Randy Arozarena hit a three-run home run as ...
Chris Bassitt danced out of trouble over five innings and combined with four relievers on a nine-hit shutout Sunday afternoon ...
Albert Pujols hit two homers and drove in four runs to power the St. Louis Cardinals past the Milwaukee Brewers ...
The Minnesota Vikings announced on Sunday that the team would be missing 13 players for the preseason opener against the ...