“The corporate (Route Cell) has subsequently signed an modification settlement to the BTA on October 1, 2020, and has accomplished the acquisition,” Route Cell stated in a regulatory submitting on Thursday night time.
Bengaluru-based TeleDNA specialises within the improvement of telecom-related options like MMSC (Multimedia Messaging Service Middle), SMSC (Brief Message Service Middle) platforms, SMS HUB and SMS firewall.
The submitting stated the lumpsum buy consideration for the transaction is Rs 12 crore plus taxes.
“The current acquisition largely constitutes acquisition of the mental property and its associated buyer contracts…no fairness shares are bought,” it added.
One of many group firms of Route Cell, 365squared Ltd (step-down wholly-owned subsidiary), is an present buyer of TeleDNA, the submitting famous.
“After the success of our IPO (preliminary public providing), we plan to be in keeping with our imaginative and prescient of inorganic progress. We consider this strategic acquisition will augur rather well for Route Cell group and for 365squared Ltd particularly,” Route Cell CEO and MD Rajdipkumar Gupta stated in a submitting on Friday.
He added that the acquisition will allow the corporate to supply a deeper and complete portfolio of merchandise to telecom operators, and drive a robust momentum.