Swedish caller ID platform Truecaller, which verifies contacts and blocks unwanted communications, has entered into an agreement to acquire the Israeli company CallHero for $4.5 million, the company announced Thursday.
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CallHero has developed a unique technical solution for both Android and iPhone, which helps users verify and answer calls with the help of a digital assistant. CallHero's solution is currently available to US customers.
"The technology that CallHero has developed strengthens our offering in the US much faster by integrating it into Truecaller, but our ambition is of course to roll out the service in all our markets. CallHero today has a well-developed advanced functionality for iPhone users, which is important in the western world, but also a valuable complement to our work to make Truecaller more efficient and user-friendly for both iPhone and Android users worldwide," said Alan Mamedi, CEO and co-founder of Truecaller.
The terms of the deal call for Truecaller to pay $2.6 million in cash upon completion, and another $1.9 million in Truecaller shares.
