Tata Communications, a leading global digital infrastructure provider, on Wednesday said it was acquiring Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE).
This acquisition follows Tata Communications' investment in Teleena in January 2017, when the company became the single largest shareholder in Teleena with a 35 per cent stake.
With the new deal, Teleena's customers will now transition to become Tata Communications' customers, and all Teleena employees will become Tata Communications' employees, Tata Communications said in a statement without disclosing the amount of the transaction.
The acquisition is an investment in technology and talent to complement Tata Communications' growth strategy in the global mobility and IoT market, the company said.
Teleena's technology reduces the operational complexity and cost of mobility and IoT deployments for businesses.
Its solution is a key part of the Tata Communications' MOVE platform, which enables enterprises and device manufacturers to capture, move and manage information worldwide through borderless, secure and scalable connectivity.
Anthony Bartolo, Chief Product Officer, Tata Communications said "Our vision is to create an environment where anything can be 'born connected'. Providing everyone and everything in the world with seamless connectivity globally will support businesses' digital transformation".
"The combination of the Tata Communications MOVE platform, and Teleena's technology and talent, will help us fulfil this vision, and accelerate our growth in the mobility and IoT market," Bartolo added.
The deal gives Tata Communications full access to Teleena's technology portfolio, including its MVNE platform, its Operational Support System/Business Support System (OSS/BSS) solution, and the expertise of Teleena's mobility and IoT industry specialities.
"The growth rate in the global mobility and IoT market is phenomenal: by 2021, enterprises' spending on mobility alone is set to surpass $1.7 trillion," Bartolo said.