Voice security startup Pindrop Security Inc. has agreed to buy Next Caller Inc., making its first acquisition to build out personalization and verification services as the coronavirus pandemic spurs a surge in call volumes.
Pindrop Chief Executive Officer Vijay Balasubramaniyan said the deal was for a mix of cash and equity with additional payments for hitting certain financial milestones, but he declined to specify the deal terms. The purchase will boost revenues by 10% and speed up the timeline for a possible initial public offering to about 18 months, he said in an interview.