Tata Communications (Netherlands), a wholly-owned indirect subsidiary of Tata Communications, on Wednesday said it has acquired the balance 65% stake in Teleena Holding, a mobile virtual network enabler headquartered in the Netherlands.
Tata Communications (Netherlands), a wholly-owned indirect subsidiary of Tata Communications, on Wednesday said it has acquired the balance 65% stake in Teleena Holding, a mobile virtual network enabler headquartered in the Netherlands. With this Tata Communications’ stake in Teleena goes up to 100%. However, the company did not disclose the price at which it acquired the 65% stake. Teleena’s technology reduces the operational complexity and cost of mobility and Internet of Things (IoT) deployments for businesses.
In 2017, Tata Communications (Netherlands) had acquired a 35% stake in Teleena to become the single largest shareholder in the firm. Teleena was founded in 2007 and has regional offices in Serbia and Singapore. According to its website, the firm helps customers manage IoT technologies.
“We help tear down isolated IoT management issues by connecting all devices to a single portal through any wireless network, anywhere in the world. By removing the silos, our customers can streamline operations, reduce costs and focus on their business development,” the website stated. Kim Bybjerg is listed as the chief executive officer of Teleena on the firm’s website.
Teleena’s customers will now transition to become Tata Communications’ customers, and all Teleena employees will become Tata Communications’ employees, the company said. Tata Communications said Teleena’s solution is a key part of the company’s MOVE platform, which enables enterprises and device manufacturers to capture, move and manage information worldwide.
“The acquisition is an investment in technology and talent to complement Tata Communications’ growth strategy in the global mobility and IoT market. It gives the company 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 specialists,” the release stated.