your password has been reset successfully, Please login again.

Tata Communications buys Netherlands-based IoT company Teleena

The acquisition is in line with Tata Communications' growth strategy for the global mobility and IoT market.
BY BEx Bureau
BusinessEx
Oct 03, 2018

Tata Communications, a leading global digital infrastructure provider, has acquired Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE).

The development comes after the Tata group company had bought a 35% stake in Teleena in January 2017.

The acquisition is in line with Tata Communications' growth strategy for the global mobility and IoT market. The firm didn't disclose financial details of the transaction.

With this acquisition, Teleena's customers will now transition to become Tata Communications' customers, and all Teleena employees will become the Tata group firm's workers.

Anthony Bartolo, Chief Product Officer, Tata Communications, said, "The growth rate in the global mobility and IoT market is phenomenal. Providing everyone and everything in the world with seamless connectivity globally will support businesses' digital transformation. This acquisition will accelerate our growth in the mobility and IoT market."

Kim Bybjerg, CEO of Teleena, said, "I'm excited about this next stage on our 10-year journey, because just like Teleena, Tata Communications is fast-moving, ambitious and focused on innovation. I look forward to working with Anthony and his team to help Tata Communications' customers make the most of the transformational potential of IoT and mobility, and support the company's mission to become one of the leading players in this industry."

Please add your Comment
SIMILAR News
October 19, 2018
With this acquisition, IIFL Wealth will increase its client base, and will expand its portfolio mana ...More
By Vaishnavi Gupta
October 18, 2018
This is the second acquisition of InMobi in 2018, after it bought AerServ in January for $90 million ...More
By Vaishnavi Gupta
October 17, 2018
The Mumbai-based enterprise security company will make the investment through its wholly-owned subsi ...More
By Vaishnavi Gupta
October 16, 2018
This is the second acquisition of DailyNinja in Hyderabad after the acquisition of 4amShop in August ...More
By Vaishnavi Gupta
October 13, 2018
With this acquisition, the Bengaluru-based mobile entertainment services company will expand its bus ...More
By Vaishnavi Gupta
October 12, 2018
As part of the deal, Advent purchased entire 40% stake held by Indian PE firm Kedaara Capital and a ...More
By Vaishnavi Gupta
October 11, 2018
Future Enterprises will pay Rs 20 crores for the stake and Rs 5 crores additionally, if required. ...More
By Vaishnavi Gupta
October 11, 2018
The acquisition will help MobiKwik to strengthen its foothold in the digital financial services sect ...More
By Vaishnavi Gupta
October 10, 2018
The combined entity will be providing a comprehensive solution to convert waste plastic into valuabl ...More
By Vaishnavi Gupta
October 09, 2018
The company is expecting that the AP unit will help it to strengthen its presence in the highly comp ...More
By Vaishnavi Gupta
October 09, 2018
With the acquisition of Two Roads, Hyatt will expand its brand presence into 23 new markets. ...More
By Vaishnavi Gupta
October 08, 2018
The acquisition marks Mercer's entry into the global talent assessment market. ...More
By Vaishnavi Gupta