Tata Communications becomes biggest shareholder in Dutch IoT firm Teleena
Tata Communications has boosted its interest in mobile virtual networks and machine-to-machine communications by becoming the largest shareholder in Teleena, taking a 35% holding. Teleena is a mobile virtual network enabler (MVNE) and internet of things (IoT) specialist based in Nieuwegein, the Netherlands. No price has been disclosed for the purchase.
Tata Communications disclosed the information in a filing to the Bombay Stock Exchange on Friday. The company said the investment was part of a long-term development strategy of its global mobility and internet of things services. Teleena has made no comment on the deal.