The messaging made in Italy is now listed on the New York Stock Exchange

The messaging made in Italy is now listed on the New York Stock Exchange
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March 4, 2019 – Italy | La Stampa (Tutto Soldi) – Maurizio Tropeano

Kaleyra is looking for global investors in SMS services for banks and enterprises

It was 1999 when Dario Calogero, with the support of Simone Fubini, founded Ubiquity and decided to invest in mobile messaging services for banks at that time this market in Italy was in the early stages yet“. Twenty years later, thanks to an internationalization process realized through acquisitions and the creation of the group Kaleyra, the quotation at Wall Street has arrived.

This hi-tech company founded in Italy, has realized a “business combination” with GigCapital, a subject of “private to public equity“, specialized in the market of technology, media and telecommunication, that was already listed at Nyse.

The “ticker” realized from this combination will be KLR. The closing of the operation and the debut on the Stock Exchange are planned for the second half of the 2019, once the Sec will give the green light.

The internationalization path has begun in 2016 with the opening of a branch in Switzerland. At the end of the same year, the company acquired Solutions Infini, with headquarter in Bangalore, India, a company that operates in the same market offering communication services to enterprises.

At the end of this operation, Ubiquity was rebranded in Kaleyra, and on August 2018, the company enters into the American market acquiring Hook Mobile.

The group has a turnover of 99.5 million dollars, 54.6 million dollars in 2016, with and expected turnover for 2019 of 209.9 million dollars and 230 people in different countries in 2021: Europe, Asia, Middle East and North America.

Kaleyra operates in almost 200 countries with over 3,000 customers worldwide in different industries: fintech, e-commerce, logistics, travel, healthcare, retail and communication. At this point of its history, for Kaleyra is quite difficult to keep on growing only with its own strengths. “We chose the American Stock Exchange after we started the path in Italy for Elite, because there are no companies of our sector at Piazza Affari, and there are no investors neither cash flow“, explains Calogero. From his point of view ” the operation with GigCapital gives us the opportunity to have access to fundamental financial assets to keep on growing even thanks to other operations of mergers and acquisitions“.

The goal is to strengthen on the US market, that represents wide margins for development in the market of communication services to support enterprises.

Read the article on the italian newspaper “La Stampa” [italian version]


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