Kaleyra is a known organization that provides its clients with mobile communication services for financial institutions and enterprises of all sizes worldwide while the GigCapital is technology, media, and telecommunications (TMT) focused investment group that aids acceleration of their clients path from inception into the growth-stage as a publicly traded company in the U.S.
Dario Calogero, Kaleyra’s Founder who retains his position as Chief Executive Officer of the Company after the closing of the transaction, commented, “These are exciting times for Kaleyra. We now enter the public company marketplace, which will provide means to further expand and accelerate our growth plans of our highly secure, regulatory compliant and integrated mobile communications platform. Our robust engineering and new product development teams will be driving our growth initiatives. With nearly 50% of our workforce focused on these two functions, we are well positioned as a preferred partner in the CPaaS segment for both small- and medium-sized businesses and larger enterprises. I am confident in or plans for continued advanced product development efforts and global market expansion, both organically and through consolidation. To support these plans, we will broaden our marketing and sales footprint to address opportunities, particularly in the large North American market.
Dr. Avi Katz, Founder and Executive Chairman of the Board of the GigCapital Group, who will assume the role of Chairman of Kaleyra’s Board of Directors, added, “With its innovative technology, product leadership, global revenue growth and profitability over the last several years, Kaleyra is poised for significant growth and shareholder value creation. As a public company, Kaleyra will have a stronger capital structure and greater latitude to excel and achieve its projected accelerated financial growth by organic and strategic means. I strongly believe the combination of Kaleyra and GigCapital, using our Private-to-Public Equity (PPE)methodology, brings unique, attractive and promising opportunities to all stockholders, more so through the planned accelerated global expansion as well as enhanced penetration to the financial and banking industry and we are looking forward to working in concert to build a new and advanced CPaaS industry leading unicorn company.”