Altruist Technologies acquires iConnectiva in a all-cash deal
The value of the deal wasn’t disclosed
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Mumbai: Chandigarh-based telecom value added services company, Altruist Technologies Pvt. Ltd announced on Friday that it had acquired Connectiva Analytics and Insights Ltd (iConnectiva), a Kolkata-based telecom data and analytics company, in an all-cash deal. The value of the deal wasn’t disclosed.
iConnectiva provides analytics solutions for subscriber data monetization, which enables telecom, media, and utility companies to improve operational effectiveness and increase profitability.
As part of the acquisition, iConnectiva’s offering will be gradually integrated with Altruist’s cloud platform to create data analytics. Altruist will be providing its services to more than 40 countries across four continents. Post the acquisition iConnectiva will continue to operate independently.
“iConnectiva is a growth stage company and has expertise in cloud based analytics solutions for telecom providers. We are combining the iConnectiva solution with Altruist’s vast experience and reach in running the cloud platform,” Dheeraj Aggarwal, co-founder of Altruist, said in a statement on Thursday.
This is the sixth acquisition for Altruist—the earlier ones being Mobile2win, Phoneytunes, RelayStrategy, Teligent AB Sweden and Bubble Motion. According to a report by the software services industry lobby Nasscom and global analytics firm BlueOcean Market Intelligence, the analytics market in India is estimated to reach $2.3 billion by the end of 2017-18.