Twilio selling ValueFirst business after a little more than 2 years

Twilio Inc.
TWLO,
-2.82%
said Thursday it was selling its ValueFirst business to India-based Tanla Platforms Ltd.
532790,
+0.19%
for an undisclosed price. In a blog post, Twilio said it expects the deal to close in July. While Twilio did not list a price, one report said Tanla was paying $42 million for ValueFirst. The deal comes a little more than two years after Twilio acquired ValueFirst “with the primary intent to accelerate growth opportunities in India, as well as explore other products and services that ValueFirst has been delivering,” Twilio said in the post. “While India is still a strategic market for Twilio, we believe allocating our resources to other strategic priorities may have a greater impact on the future of our business.” Shares of Twilio were down 2.5% in recent activity.