When Tata Communications acquired Kaylera, I thought it would be a simple swap and a way to introduce a more global perspective. This was naïve. Very much like its corporate parent, Tata Sons, Tata Communications is a conglomerate inside a conglomerate.
Tata Communications sells voice and data services, which also includes messaging. It provides digital transformation services, operates a payments network (including ATMs), and even manages real estate. Discerning true CPaaS revenues using publicly available data will take some time.
In hindsight this should have been obvious. I grew up in India, where the Tata brand is all around you. They make everything from steel and tea to textiles and automobiles. They also own international brands such as Jaguar Land Rover.
For now I’ll track Tata Communications but refrain from merging its blended financials into these conversations.