Rander Corporation and Signature Africa Ventures have signed a joint venture agreement to form a company in Mauritius, which would be focused on building capability and executing innovative wireless coverage solutions in African & Middle Eastern Countries.

With the growth of data requirement & the world evolving from human connectivity to machine-to-machine connectivity, the joint venture would focus on playing the role of a system integrator, which would be able to get the best of the partners' expertise in various geographies.

Amit Rander, chief financial officer of Rander Corporation said, "Partnership with Signature Group is a milestone in plans of Rander Corporation to become a recognizable player in the 'Smart World' where our belief is that not only the equipments but also the cities, countries & the entire globe has to become smarter which could be achieved only by watertight connectivity."

Shares of the company declined Rs 0.25, or 1.75%, to trade at Rs 14. The total volume of shares traded was 175 at the BSE (2.33 p.m., Monday).