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Truecaller to Acquire Israel-Based CallHero for USD 4.5m
Friday 14 January 2022

Sweden-based smartphone application company Truecaller AB, a platform for verifying contacts and blocking unwanted communications, has agreed to acquire Israel-based smartphone technical solution provider CallHero for USD 4.5m, the company said.

Of the agreed purchase price, USD 2.6m will be paid in cash upon completion of the acquisition and USD 1.9m through newly issued shares in Truecaller. The acquisition will be financed through existing cash and newly issued shares in Truecaller AB.

CallHero has developed a unique technical solution for both Android and iPhone, which helps users verify and answer calls with the help of a digital assistant, a Smart Agent. The solution is currently offered to consumers and companies in the US, thereby strengthening Truecaller's offering.

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 2m will be paid, provided that certain goals are achieved for a period of up to four years after the transaction is completed.
Date Published: 14/01/2022