Truecaller enters into an agreement to acquire US-based TextPlus Inc.
STOCKHOLM, July 17, 2026 /PRNewswire/ -- Truecaller AB (publ) ("Truecaller" or the "Company") has today entered into an agreement to acquire 100% of the shares in TextPlus Inc. ("TextPlus") (the "Acquisition"). TextPlus is a US-based communications software company offering a flexible and cost-effective alternative to traditional wireless carriers. The Acquisition increases Truecaller's footprint in the US and brings the Company closer to a comprehensive communications platform by broadening its capabilities with complementary offerings such as second numbers and internet-based calling, commonly known as VoIP. The purchase price corresponds to a valuation of USD 15.0 million on a cash and debt free basis. The Acquisition will be financed with own funds.
Truecaller's CEO, Rishit Jhunjhunwala, comments:
"Scott and the rest of the TextPlus team have built a service that helps people communicate far better than they used to. This philosophy is exactly in-line with Truecaller. We're very excited to join forces and power communication services in a safe and trusted manner. The culture of the team, the financial discipline and the impressive tech, all align with Truecaller and we're confident that we will together be able to grow this business to much greater heights. Truecaller and TextPlus both have changed how mobile communication takes place and it's only natural that we come together."
About TextPlus
Founded in 2009, TextPlus is a US-based communications technology company providing cloud-based voice, messaging and connectivity services through its proprietary mobile platform. TextPlus enables users to make VoIP calls, send and receive SMS messages and access mobile communication services over data networks, offering a flexible and cost-effective alternative to traditional wireless carriers. TextPlus has built a large and diversified user base of approximately 1.5 million monthly active users serving consumers seeking affordable, app-based communication solutions. The platform provides users with dedicated phone numbers and supports both domestic and international communications, leveraging a scalable cloud infrastructure designed to deliver reliable and high-quality connectivity. For the twelve-month period ending May 2026, adjusted net revenue amounted to USD 5.2 million, representing a compound annual growth rate (CAGR) of approximately 45% since 2023, with good profitability. TextPlus is headquartered in Los Angeles and has a total headcount of 14.
TextPlus' CEO and Founder, Scott Lahman, comments:
"Telecom only works when people can trust it. Truecaller and TextPlus share a commitment to safer, more trusted communication, and we're excited about the opportunity to help restore trust in every connection."
Strategic rationale
For Truecaller the Acquisition unlocks further US expansion potential, through TextPlus's US footprint. The Acquisition leverages the strengths of both Truecaller and TextPlus by enabling cross-selling across key markets, facilitating knowledge sharing between Android- and iOS-focused platforms, and expanding proven technologies into new regions. It also aims to optimize user acquisition and introduce new use cases like business focused number solutions, driving growth and value across the ecosystem. Truecaller gains product and market insights as well as a complementary user base, while TextPlus strengthens its position to become a consumer telco and MVNO replacement product in the US market. Acquiring TextPlus brings Truecaller closer to a comprehensive communications platform by broadening its capabilities with complementary offerings such as second numbers and VoIP.
TextPlus brings a lean and experienced team that has been building and refining the operations for over a decade. Both Truecaller and TextPlus share a strong product-centric culture and a clear ambition to drive sustainable, profitable growth.
The Acquisition and financing
The purchase price for 100% of the shares in TextPlus amounts to USD 15.0 million on a cash and debt free basis and will be financed with own funds.
The Acquisition is subject to customary regulatory approvals and closing conditions and is expected to be completed during Q3 2026.
Advisers
DNB Carnegie Investment Bank AB is acting as financial advisor, Squire Patton Boggs (US) LLP as legal advisor, and KPMG as financial and tax due diligence advisor in relation to the Acquisition for Truecaller.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP is acting as legal advisor to Textplus and The Raine Group is serving as exclusive financial advisor to TextPlus.
For more information, please contact:
Andreas Frid, Head of IR & Communication
+46 705 29 08 00
[email protected]
This information is information that Truecaller is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at the time stated by the Company's news distributor, Cision, at the publication of this press release.
About Truecaller:
Truecaller (TRUE B) is the leading global platform for safe and trusted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 500 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information please visit corporate.truecaller.com
This information was brought to you by Cision http://news.cision.com.
The following files are available for download:
Truecaller - Pressrelease TextPlus 260716 |
SOURCE Truecaller AB
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