Tata Communications buys IoT specialist Teleena
Acquisition by Tata Communications builds on earlier investment in Dutch IoT connectivity firm
Tata Communications has acquired Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE).
Teleena's technology reduces the operational complexity and cost of mobility and IoT deployments for businesses. The technology is already integrated into Tata Communication's MOVE platform for IoT connectivity and data.
The acquisition follows Tata Communications' investment to acquire a 35% stake in Teleena in January 2017.
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.
Teleena's customers will now transition to become Tata Communications' customers, and all Teleena employees will become Tata Communications' employees.
"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," said Anthony Bartolo, Chief Product Officer, Tata Communications. "Our vision is to create an environment where anything can be ‘born connected'. Providing everyone and everything in the world with seamless connectivity globally will support businesses' digital transformation. The combination of the Tata Communications MOVETM platform, and Teleena's technology and talent, will help us fulfil this vision, and accelerate our growth in the mobility and IoT market."
"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," said Kim Bybjerg, CEO of Teleena. "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."