Tanla makes second acquisition; on-boards three new Independent Directors

Tanla Solutions has signed a definitive share purchase agreement to acquire 100% of Gamooga at an enterprise value of Rs.48.5 Crore.

VoicenData Bureau
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Tanla new directors

On August 30, 2019, Tanla Solutions revealed major decisions taken by the organization's head. One Tanla has acquired big data and AI-based marketing automation platform Gamooga. Second, Tanla Solutions announced Rohit Bhasin and Sanjay Baweja as its new Independent Directors, and Sanjay Kapoor as Non-Executive Director, with effect from August 31st, 2019.

Gamooga acquisition: With Gamooga, Tanla Solutions forays into fast-growing Marketing Automation industry. Tanla Solutions has signed a definitive share purchase agreement to acquire 100% of Gamooga at an enterprise value of Rs.48.5 Crore. Gamooga will receive a cash payment of Rs 31.5 Crore. This will be funded from Tanla’s internal accruals. Gamooga will be issued a further Rs. 17 Crore worth of Tanla stock at a price of Rs 80 per equity share. This acquisition is expected to close by October 2019 and is subject to approval from Tanla’s Shareholders and regulators, if any.

This is the 2nd acquisition Tanla has made in the last 4 months. Acquisition of Karix Mobile and Gamooga now will position Tanla as the end-to-end solution provider for global enterprises including the existing 1500+ enterprise customers, to solve every imaginary use case and the problem of customer experience.

Uday Reddy, Tanla Solution’s Chairman and Managing Director, said, “Gamooga is a great addition to our overall growth plan. Its marketing technology stack powered by big data and artificial intelligence will enable us to offer end-to-end customer experience suite to our growing enterprise customer base and shall reinforce our position as market leaders.”

Three new leaders at Tanla: The company has hired three new leaders who are believed to be influencers in their respective fields and would contribute to Tanla’s plans for global expansion and accelerated growth.

“The appointments of Sanjay Kapoor, Rohit Bhasin, and Sanjay Baweja to the board are in line with Tanla’s commitment to adding highly accomplished board members with outstanding credentials and industry-wide acclaim. Our Board looks forward to their industry expertise and valuable insights in our growth journey” commented Uday Reddy, CMD at Tanla.

Telecom and technology expert, Sanjay Kapoor has been entrusted as the Non-Executive Director role at Tanla. Kapoor has earned wide recognition by working with esteemed companies, advising as a Board member for various companies. Mr. Kapoor has worked with companies such as Xerox, Micromax as the Chairman and Bharti Airtel as the CEO. Mr Kapoor is an active member in industry forums such as CII, COAI, and NASSCOM. Mr. Kapoor was a Board and an Executive committee member of GSMA and has been a Board member for companies such as Indus Towers Bennett, Coleman & Co. Ltd and PVR Limited to name a few. Additionally, he has acted as the Senior Advisor with Boston Consulting Group.

With 35 years of experience, Rohit Bhasin has worked with esteemed organizations such as Standard Chartered Bank, AIG Inc, and PricewaterhouseCoopers (PwC). He has had a distinguished record serving as an advisor across a number of organizations including a member of PwC India’s Leadership Team (ILT) and a member of PwC’s Global Network of Valuation Leaders and currently acts as an independent trustee on the PwC India Foundation.

Rohit has also acted as an Independent Director on the Board of GE Capital Services India and a Chairman for the Board’s Audit Sub Committee. In the past, he has also served as an Independent Director on the Board of Fortis Healthcare Limited and a Board Member for SecureNow.

Sanjay Baweja has over three decades of experience with a specialization in finance across sectors like E-Commerce, Infrastructure, and Telecom. He has worked with several big brands including Emaar MGF Land Limited as Executive President for Corporate Affairs and Chief Risk Officer, Bharti Airtel, Xerox Modicorp, Digital Equipment, and Ballarpur Industries.

Baweja was the Chief Financial Officer (CFO) of Suzlon Energy Ltd. At Suzlon, he was part of the core strategic think tank of the company that defines the strategic roadmap for increased profitability and contributes to overall organizational development. Prior to Suzlon, he has worked as the CFO for renowned companies such as Flipkart and Tata Communications.