Truecaller completes acquisition of CallHero
Truecaller, the leading global platform for verifying contacts and blocking unwanted communications, has completed the acquisition of CallHero.
As previously announced, Truecaller entered into an agreement to acquire CallHero on 13 January, 2022. CallHero has developed a unique technical solution for both Android and iPhone that automatically answers and analyzes incoming calls with the help of a digital assistant, a Smart Agent. On 22 March 2022, Truecaller completed the acquisition for a purchase price of USD 4.5 million (approximately SEK 42.4 million) through its wholly owned subsidiary Truecaller Holding AB. The purchase price is paid partly in cash of USD 2.7 million (approximately SEK 25.5 million) and partly through a new issue of ordinary shares of series B in Truecaller, corresponding to a value of USD 1.8 million (approximately SEK 17 million). The company is consolidated from 22 March 2022.
The subscription price per share in the issue of the consideration shares amounts to 60 SEK (approximately 6.36 USD) and corresponds to the average closing price for Truecaller's shares during the 10 trading days immediately before the effective date. Through the issue, the number of outstanding shares and votes increase by 295,640, from 373,664,070 to 373,959,710 and the share capital increase by SEK 591.28, from SEK 747,328.14 to SEK 747,919.42. The issue of the consideration shares entails a dilution for existing owners of 0.08 percent of the number of shares and 0.04 percent of the votes in Truecaller after the issue of the consideration shares.
In addition to the fixed purchase price, the sellers may also receive a cash earn out of up to USD 2 million (approximately SEK 18.8 million) provided that certain targets are met over a period of up to four years.
For more information, please contact:
Annika Billberg, Head of IR & Communication
+46 702 679791
annika.billberg@truecaller.com
About Truecaller
Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. 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 visit corporate.truecaller.com.