Earlier this year, I mentioned that Tata Communications is a complex business, which is why simply replacing Kaylera with Tata in my CPaaS financial discussions wasn’t a viable option. That conclusion still holds. However, with a market cap of $6.35 billion and $2.7 billion in LTM revenue, there’s plenty to learn about global communications as well as CPaaS. For instance, in this past quarter (which would be Q2 2025 in their fiscal year) the recent Red Sea undersea cable cut affected both its operations and bottom line. On the other hand, it has fully integrated the Kaylera acquisition into its financials.
Here’s an interesting tidbit: Tata Communications’ managed CPaaS business grew 174.2% year-over-year, primarily driven by SMS. It expects this growth to extend to other channels, including Voice, WhatsApp, and RCS. While the exact revenue figures weren’t disclosed, that’s a significant growth rate. Whether this surge is predominantly India-focused or more globally blended remains to be seen, but either way, it’s an eyebrow-raising number. Stay tuned; I’ll share as I learn more.