2023-06-08 15:46:06 ET
- Twilio ( NYSE: TWLO ) said it agreed to sell its ValueFirst business to Tanla.
- The deal is expected to close next month, according to a Twilio blog post. The terms of the deal weren't disclosed.
- Twilio acquired ValueFirst India in 2021 to try to accelerate growth opportunities in India, according to the post.
- "While India is still a strategic market for Twilio, we believe allocating our resources to other strategic priorities may have a greater impact on the future of our business," Twilio said.
- A week ago, Kore Group ( KORE ) said it closed the acquisition of Twilio's ( TWLO ) IoT business unit.
- The asset sales come amid a report from last Tuesday that activist investor Legion Partners has met with the Twilio and is pushing the communications tech company to make changes , including asset sales.
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Twilio to sell ValueFirst business to Tanla