Altruist Technologies has entered into a preliminary agreement with the Italy-based Acotel Group to acquire Info2cell for $5.5 million, reports Telecompaper. The transfer of ownership will likely take place in September, after clearance from the relevant authorities in Dubai, where the Info2cell subsidiary is registered.
Info2cell currently provides services like SMS/MMS channels, RBT content management, content distribution and portal development and products that include mobile applications, TV guide website 3alaTV, free subscription based magazine Alwan and the Egyptian character Haridi. The platform is available on various carriers in Saudi Arabia, Jordan, Iraq, Bahrain, Seychelles, UAE, Lebanon, Oman, Nigeria, Egypt, Afghanistan, Palestine and Maldives among others.
Bubbly acquisition: In August last year, Altruist acquired Singapore-based social voice messaging company Bubbly for an undisclosed amount. This deal added Bubbly’s 40 million registered users across Asia and the Middle East, and the SMS-based BubbleTalk’s 140 million users (claimed) across India and other parts of Asia to Altruist’s portfolio of voice-based services.
iConnectiva acquisition: The next month, Altruist acquired the analytics company iConnectiva in an all-cash deal, although the deal size wasn’t disclosed. At the time of acquisition, iConnectiva claimed to have a presence in 35 countries in the Middle East, Africa, Europe and India. iConnectiva, which provides fraud management, revenue assurance and big data analytics solutions among others to telecom, media and utility companies, would continue to operate as an independent entity.
Other Altruist acquisitions:
Altruist had also acquired Sweden-based VAS company Teligent Telecom in an all-cash deal in July 2012. Following the acquisition, Altruist gained access in the European, North African and US markets. It already had a presence in Southeast Asia, Middle East and Africa. The Chandigarh-based company claims to have over 80 million active voice messaging users across Africa and Europe.
A year earlier, Altruist had acquired 100% stake (except ESOPs) in mobile applications and IT solutions company RelayStrategy, and 20% stake in mobile VAS Retail and voice gaming company Vegam, within a space of three weeks.