Knowlarity acquires Unicom Techlabs; more M&As in pipeline in 2014
Knowlarity will get full ownership of Unicom’s IP; says this is the first step towards consolidating the cloud telephony market in India
A screen grab from knowlarity.com
Indian cloud telephony solutions provider Knowlarity has acquired Unicom Techlabs, a cloud telephony startup based in New Delhi. The financial details of the acquisition have not been revealed yet.
Post the acquisition, Knowlarity will get full ownership of Unicom’s intellectual property. It will also handle Unicom’s 200 plus clients across SMB, e-commerce, real estate, healthcare and media.
Shruti Agrawal, CFO, Knowlarity
“We are delighted to join forces with other companies that have the same aim, and are especially pleased to have successfully acquired the talented team at Unicom. We consider this a very special first step for the many M&A deals in the pipeline for 2014, the end result of which will be to streamline and consolidate the cloud telephony market in India,” said Shruti Agarwal, CFO, Knowlarity.
Knowlarity was established by Ambarish Gupta and Pallav Pandey and received its first funding from Sequoia Capital. The company collected nearly half a million dollars in its first round of funding. In January 2012, Knowlarity again received US$6.5M from Sequoia Capital to acquire a minority stake in the cloud telephony company.
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Ambarish Gupta, CEO, Knowlarity
“We are happy with the deal and hope to expand business by consolidating the market,” said Ambarish Gupta, CEO, Knowlarity.
While cloud telephony is a growing industry, the segment has proved to be a tough one to survive, especially for startups. VoiceGain, a global cloud telephony player, that started operations in India in 2012, shut shop last year.
Knowlarity currently has nearly 6000 customers and claims to be on course to reaching an annual turnover of Rs 75 crore by 2015.
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