Truecaller Acquires Israel-Based CallHero In $4.5 Million Deal

Mobile application Truecaller has announced a deal to acquire Israeli company CallHero for $4.5 million.

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According to a report by The Economic Times, out of $4.5 million, $2.6 million will be paid in cash.

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The remaining $1.9 million will be paid after the acquisition, in the form of freshly issued shares.

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According to the report, the fresh issue of shares will strengthen CallHero’s long term commitment to Truecaller.

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CallHero has developed a feature for Android and iPhone that can answer calls and take messages on behalf of the users.

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Truecaller has also agreed to pay an additional $2 Million if CallHero achieves certain goals for a period of four years.

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