Truecaller acquires Israel’s Callhero for $4.5 million

Sweden-headquartered Truecaller has entered into an agreement to acquire the Israeli company Callhero that helps users verify and answer calls with the help of a digital assistant, a Smart Agent. The agreed purchase price amounts to $4.5 million, of which $2.6 million will be paid in cash upon completion of the acquisition and $1.9 million through newly-issued shares in Truecaller, the company said in a statement. It added that the purpose of the issue of new shares is to strengthen the long-term commitment to Truecaller for certain key persons at Callhero. “In addition, a potential additional purchase price of a maximum of $2 million will be paid, provided that certain goals are achieved for a period of up to four years after the transaction is completed,” it said. Callhero gives the user support in handling incoming calls with the help of an Ai-based assistant who answers the call. The conversation between the caller and the assistant is visible in text-based format, live in the app.