Tata Communications becomes biggest shareholder in IoT firm
23 January 2017 | Alan Burkitt-Gray
Tata Communications has boosted its interest in mobile virtual networks and machine-to-machine communications by becoming the largest shareholder in Teleena, taking a 35% holding.
Teleena is a mobile virtual network enabler (MVNE) and internet of things (IoT) specialist based in Nieuwegein, near Utrecht in the Netherlands. It is an unquoted company, so no price has been disclosed for the purchase.
Tata Communications disclosed the information in a filing to the Bombay Stock Exchange on Friday. The company said the investment was part of a long-term development strategy of its global mobility and internet of things services. Teleena has made no comment on the deal.
Days before, Teleena announced a strategic partnership with Cumulocity, a device management and application enablement platform provider for IoT. Teleena said it will roll out Cumulocity’s suite with functionalities for enterprises to build IoT solutions and monetise new business models.
Teleena’s founder and executive director, Timo Smit, said: “With Cumulocity we have integrated a market leading and future proof platform that enables seamless device on-boarding, auto-discovery, control and management of IoT devices.”
He said that Cumulocity’s offering “can be readily incorporated into customers’ wider value offerings”.
Teleena is ten years old and says it manages more than a million mobile connections worldwide.
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