Instances of mergers and acquisitions have increased as the big players across industries have been consolidating and cementing their places as leaders of the market. The latest instance of acquisitions comes in the form of Knowlarity Communications, which has been acquired by conversational engagement solutions provider Gupshup for an undisclosed amount.
It is expected that the deal will close by the end of the month, subject to the completion of customary closing conditions.
Gupshup was one of the many Indian startups that achieved the status of unicorn last year. The acquisition of Knowlarity is Gupshup’s second in the past few months, after the acquisition of New Jersey-based RCS platform Dotgo in September. Today, Gupshup claims to process over 6 billion messages per month and provides a single messaging API for over 30 messaging channels, AI-powered voice solutions, and a network of emerging market partnerships across messaging apps, device manufacturers, ISVs, and mobile operators.
Founded by Ambarish Gupta and Pallav Pandey in 2009, Knowlarity offers cloud telephony, contact centre automation, AI-powered voice assistants, and speech analytics solutions to over 6,000 customers across 65 countries. It is also a big name in the conversational engagement market, which has been growing steadily over the years. According to an official statement, the market is slated to transform contact centers, IVR systems, and smart voice systems, accounting for a total addressable market (TAM) of nearly $18 billion in 2024.
It is hardly surprising that Gupshup has acquired it since its voice solutions will augment Gupshup’s messaging solutions. This will give Gupshup an edge over its competitors and consolidate its position as the leader in video and voice communications.
Knowlarity is strong in its own right, clocking a growth of 50% in revenue over the past year. Today, its solutions are used across various sectors such as BFSI, Consumer Goods, IT/ITeS, and Healthcare. Its cloud solutions include Click to call, number masking, multi-level IVR system, WhatsApp Business API, Toll-free no, Embeddable Video Platform, AI-enabled solutions like Speech Analytics & VoiceBot/ChatBot, and more.
Knowlarity is also known to have teamed up with Google Cloud for Speech Analytics and integrated with the world’s leading CRM systems like Salesforce, Freshworks, Hubspot, Zoho, and others.