Altruist Techologies buys Teligent Telecom for over 13 million euros

Telecom Lead India: Altruist Technologies, a value-added
services provider, has acquired the Sweden-based Teligent Telecom, supplier of
infrastructure solutions and value-added services to telecom carriers.

Chandigarh-based Altruist Technologies provides VAS
services to all big telecom players like Airtel, Tata Teleservices, Aircel and

The acquisition was done in an all-cash transaction and
the deal is valued at 13-14 million euros (Rs 88-95 crore).

This is Altruist’s fourth acquisition in the last four

The deal will help Altruist boost its revenues in the
financial year 2012-13. Additionally, the acquisition will also help the
company foray into developed markets like Europe and the United States and also
in North Africa.

Altruist already has presence in Southeast Asia, the
Middle East and the African continent.

Anuj Aggarwal, director, Altruist Technologies, said the
acquisition will allow Teligent  tol serve as the platform for our entry
into developed markets as business development from ground zero in developed
markets is fairly tough.

The company has funded the deal through internal accruals
and some debt.

Teligent currently provides mobile value-added services
like voicemail and messaging to its clients that include BT, Vodafone, Telenor,
Maroc Telecom and DTMS.

Post acquisition, Teligent will continue to operate under
its own brand name.

Earlier in the year 2009, Altruist acquired Mumbai based
Mobile2Win, followed by the acquisition of web and US-based mobile technology
firm RelayStrategy LLC in 2011.

Altruist also acquired Delhi’s Mobisoft Telesolutions,
which runs the website in 2011.

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