Tata Communications Unit Invests In Netherlands' Teleena, Holds 35% Stake
Tata Communications on Saturday said Tata Communications (Netherlands) has made an investment in the Netherlands-headquartered Teleena Holding, becoming the single largest shareholder in the company with a 35 per cent stake.
Tata Communications (Netherlands) BV is a wholly-owned indirect subsidiary of Tata Communications Ltd.
"...Tata Communications (Netherlands) BV, a wholly-owned indirect subsidiary of Tata Communications Ltd has made an investment in Teleena Holding BV (a mobile virtual network enabler headquartered in the Netherlands) on January 20, 2017 as part of Tata Communications' long-term development strategy of its global mobility and Internet of Things services," the company said in a filing to the BSE.
With this investment, Tata Communications (Netherlands) BV becomes the single largest shareholder of Teleena with 35 per cent stake in the company, it added.
However, the Tata Communications did not specify the quantum of investment.
Teleena is a global IoT and MVNO enabler headquartered in the Netherlands, with regional offices in the UK and Singapore.
Teleena has been enabling companies with mobile telecom ambitions since 2007 with a broad portfolio of products and services and manages more than one million mobile connections worldwide, according to company's website.
Teleena further said its offerings span the entire IoT/mobile spectrum from core network to business support tools, and that its real-time solutions allow customers to interact with every end-user or device and monetise IoT for consumer or business.