Tanla Platforms Limited (NSEI:TANLA) entered into share purchase agreement to acquire ValueFirst Digital Media Pvt. Ltd. from Twilio Inc. (NYSE:TWLO) for $42 million on June 8, 2023. The consideration payable in cash is subject to upward closing adjustments in the range of $2.5 million?$3.5 million.

ValueFirst Digital reported turnover of approximately INR 6.5 billion ($79.2 million) in FY23. The acquisition is subject to closing conditions and is estimated to be completed in July 2023. Jones Day acted as legal advisor to Twilio Inc.