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.

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

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

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

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

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