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Tanla Completes OpenBit Acquisition; Final 10% Stake For EUR 5.95M

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Indian mobile VAS company Tanla Solutions has finally completed the acquisition of Finald based mobile payments company OpenBit Oy (now called Tanla Oy) by acquiring the remaining 10 percent. In June 2008, Tanla had picked up 85 percent in the company for $15.8 million, followed by an acquisition of 5 percent in June 2009. The final 10 percent stake has cost Tanla EUR 5.95 million (around Rs. 360.19 million).

Tanla Oy is important to Tanla Solutions for two reasons: firstly, it is based in Finland, in close proximity to Nokia, which is a key client for Tanla, particularly for maps. Secondly, Tanlya Oy has enabled on device payment solutions for the company, which is a key offering for clients like Nokia. Tanla Oy also services Independent Software Vendors like Symantec, F-Secure & Quick-office and Gaming companies like 3D Arts & Gamelion.

Earlier last year, Tanla inked a 5 year (non-exclusive) agreement with Nokia, covering Licence Management and Mobile Payments related to maps. Tanla will provide their License Manager, On-Device Payment Solutions where they have credit card payments and operator billing in 100 operator networks; and Professional Services across platforms for customization of the solutions for handsets.

Related:
Tanla Net Profit At Rs.126.6M, Domestic Sales Shrinks Further
Tanla Call: Nokia Deal For Maps; Non-Exclusive; Revenue Expectations
Nokia & Tanla Sign 5 Year Licence Management, Mobile Payments Deal
Tanla Solutions Domestic Business Down 65.2% QoQ; Profits At Rs. 108.3M

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