Business

Tata Communication Acquires IoT Specialist Firm Teleena

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| October 3 , 2018 , 16:46 IST

Tata Group's global digital Infrastructure provider firm Tata communication has announced on Wednesday that it has acquired Netherlands based Internet of Things (IoT) connectivity specialist firm Teleena to accelerate its growth in the global mobility. 

The company said, "This acquisition follows Tata Communications’ investment in Teleena in January 2017, when the company became the single largest shareholder in Teleena with a 35 percent stake."

Commenting on the acquisition Anthony Bartolo Chief Product Officer of Tata Communications said, “Our vision is to create an environment where anything can be ‘born connected’. The combination of the Tata Communications MOVE platform and Teleena’s technology and talent will help us fulfill this vision, and accelerate our growth in the mobility and IoT market.”

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“The growth rate in the global mobility and IoT market is phenomenal by 2021, enterprises’ spending on mobility alone is set to surpass USD 1.7 trillion,” he added.

Whereas 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,” he added.

The acquisition is an investment of Tata communication in technology and talent.

With this acquisition, Tata communication will get a full access to Teleena’s technology portfolio including its MVNE platform, Operational Support System / Business Support System (OSS/BSS) solution and the expertise of Teleena’s mobility and IoT industry specialists.