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."