Furthering its global digital ambitions, Tata Communications has today announced yet another acquisition. This time, the company is taking over Teleena, a Netherlands-based IoT and Mobility focused company, which helps businesses function better by building solutions that remove operational complexities for companies. Teleena does this by using IoT and Mobility tools as its pillars.
The acquisition also makes sense strategically, since Teleena is already behind the core of Tata Comms.’ MOVE platform. MOVE is Tata’s flagship product which enables enterprises and device manufacturers to capture, move and manage information worldwide through borderless, secure and scalable connectivity.
This acquisition follows Tata Communications’ investment in Teleena in January 2017, when the company became the single largest shareholder in Teleena with a 35% stake.
Anthony Bartelo, Chief Product Officer at Tata Communications says,
The combination of the Tata Communications MOVE™ platform, and Teleena’s technology and talent, will help us fulfil this vision, and accelerate our growth in the mobility and IoT market.
Founded in 2007, Teleena is based in the Netherlands, with regional offices in Serbia and Singapore. Apart from its IoT and mobility solutions, Teleena has developed autonomous products and value-added services, so M(V)NOs can quickly adjust their strategy or adapt to the market anytime, without delays or disrupting their existing business.
Tata’s aggressive focus towards IoT and Mobility make sense, considering an IDC report pegs worldwide spending on mobility solutions to grow 3.2% year over year in 2018, reaching more than $1.6 trillion. This growth is expected to continue through 2021 with spending on mobility-related hardware, software, and services surpassing $1.7 trillion as the market achieves a five-year compound annual growth rate (CAGR) of 2.8%.