Tata Communications, a leading global digital infrastructure provider, is acquiring Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE). The company’s technology reduces the operational complexity and cost of mobility and IoT deployments for businesses.

Teleena's solution is a key part of the Tata Communications' MOVE platform, which enables enterprises and device manufacturers to capture, move and manage information worldwide through borderless, secure and scalable connectivity. The acquisition is an investment in technology and talent to complement Tata Communications' growth strategy in the global mobility and IoT market. It gives the company full access to Teleena's technology portfolio, including its MVNE platform, its Operational Support System / Business Support System (OSS/BSS) solution, and the expertise of Teleena's mobility and IoT industry specialists.

Teleena's customers will now transition to become Tata Communications’ customers, and all Teleena employees will become Tata Communications' employees.

''The growth rate in the global mobility and IoT market is phenomenal: by 2021, enterprises' spending on mobility alone is set to surpass USD 1.7 trillion,'' said Anthony Bartolo, Chief Product Officer, Tata Communications. ''Our vision is to create an environment where anything can be 'born connected'. Providing everyone and everything in the world with seamless connectivity globally will support businesses' digital transformation. 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.''

Shares of the company declined Rs 2, or 0.41%, to trade at Rs 486.45. The total volume of shares traded was 8,265 at the BSE (10.59 a.m., Thursday).