Tech Mahindra sells stake in Altiostar to Rakuten Mobile for $45 mn

Becomes preferred partner for Rakuten Communication Platform

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Tech Mahindra | business news today

Sai Ishwar  |  Mumbai 

IT services provider Tech Mahindra has divested its holding in Boston-based Altiostar Networks to Rakuten Mobile Inc.

This comes as Tech Mahindra has been appointed as a preferred partner for global go-to-market opportunities for the Rakuten Communications Platform (RCP). As a part of the partnership, the Pune-headquartered company will sell 1.85 crore preferred shares for a consideration of $45 million to the Japanese e-commerce conglomerate. "As it is a minority investment there is no contribution to turnover or revenue by Altiostar Networks during the financial year ending ...

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First Published: Wed, September 23 2020. 20:59 IST
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