Truecaller acquires CallHero for $4.5 million

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Truecaller, the leading global platform for verifying contacts and blocking unwanted communications has entered into an agreement to acquire the Israeli company CallHero which has developed a unique technical solution for both Android and iPhone to help users verify and answer calls with the help of a digital assistant, a Smart Agent.

• The agreed purchase price amounts to USD 4.5 million, of which USD 2.6 million will be paid in cash upon completion of the acquisition and USD 1.9 million through newly issued shares in Truecaller. 
• In addition, a potential additional purchase price of a maximum of USD 2 million will be paid, provided that certain goals are achieved for a period of up to four years after the transaction is completed.
• The acquisition will be financed through existing cash and newly-issued shares in Truecaller AB.

TrueCaller:

CEO and co-founder: Alan Mamedi

Headquartered in Stockholm, Sweden since 2009.