Tanla Solutions Ltd ("Tanla") (NSE: TANLA) (BSE: 532790) today completed 
the acquisition ("Acquisition") of 100% shareholding of Karix Mobile Pvt Ltd 
("Karix") and its wholly owned subsidiary Unicel Technologies Pvt Ltd 
("Unicel") from Banyan Investments Ltd ("Banyan"), a company owned by funds 
affiliated with GSO Capital Partners L.P. ("GSO").

    (Logo: https://mma.prnewswire.com/media/627459/Tanla_Solutions_Logo.jpg)

    (Photo: https://mma.prnewswire.com/media/869663/Tanla_Karix.jpg)

    Consideration for the Acquisition was approximately Rs.340 Crores, 
comprising:


    1) Rs.112 Crores in cash;

    2) Preferential Allotment to Banyan of 2.20 Crores Equity Shares in Tanla 
at a Face Value of Re.1 only, at a rate of INR 56.79 per share totaling Rs.125 
Crores; and

    3) Tanla assuming the debt on Karix's book of Rs.103 Crores. 

    This acquisition is being funded by Tanla with cash on balance sheet.

    Post-acquisition, the shareholdings (on a fully diluted basis) of Tanla 
would be; Promoters: 31.2%, and GSO: 14.6%.

    As a result of the Acquisition, Karix has become a wholly owned subsidiary 
of Tanla (and Unicel will remain a subsidiary of Karix), effective April 10th, 
2019.

    As a result of the Preferential Allotment to Banyan, Banyan will hold an 
observer seat on Tanla's Board of Directors.

    Tanla announces the appointment of Mr. Alex Howell (Managing Director at 
GSO) as observer on Tanla's Board. Alex is an alumnus of London School of 
Economics and brings with him more than 14 years of rich experience in 
financial markets in a number of areas such as M&A, leveraged & equity 
financings and public credit markets, having previously worked at Lehman 
Brothers, Nomura, and (since 2012) GSO.

    Commenting on the closure, Mr. Uday Reddy, the CMD of Tanla said:
    "Tanla's acquisition of Karix is a landmark event in Indian telecom 
history, bringing together two of the most influential players in the Cloud 
Communication ecosystem. The combined teams are fully energized to demonstrate 
substantial innovation and value-addition to delight stakeholders. The 
combination gives rise to exciting opportunity for shrinking processes, 
timelines and costs."

    Mr. Alex Howell added, "We look forward to this exciting new phase of 
growth of the combined entities and look forward to Tanla developing into a 
leader in Cloud Communications."

    About Tanla

    Tanla started its journey as the new millennium set in with a small group 
of mobile messaging experts, with base in Hyderabad, India, to create a 
world-class messaging service. Today, Tanla is a global leader in its domain as 
one of the largest Cloud Communication providers, handling over 90 bn business 
communications annually. Tanla is innovating the way the world communicates, 
continuously raising the bar through enhanced speed, ease and simplicity of 
Cloud Communication solutions, adopting cutting-edge technologies to meet the 
discerning needs of a diverse clientele, from enterprises to carriers across 
geographies. Tanla is a public limited company listed on leading Indian stock 
exchanges (NSE: TANLA, BSE: 532790).

    For Enquires, write to investorhelp@tanla.com

    Source: Tanla Solutions Ltd