Mahindra Comviva, Tech Mahindra’s mobility solutions arm, has acquired a controlling stake in Advanced Technology Solutions (ATS) a Latin American company, for an undisclosed amount, reports VCCircle. This will let Comviva strengthen its presence in the region, and offer end to end development, implementation and post sales support solutions to clients like AT&T, Claro, Entel, Nextel, Oi, Telefonica, TIM and Vivo.
ATS was founded in 1991 and offers tech solutions for telecom operators to manage their communication networks, including USSD, SMS and IVR messaging among other value added services like VPN, SIM activation etc.
The report states that ATS solutions are used by multiple telecom operators in Argentina, Brazil, Mexico, Colombia, Peru and Ecuador with Central American countries, whereas Mahindra Comviva partners with telcos in El Salvador, Guatemala, Honduras, Bolivia, Colombia, Paraguay, Guyana, Curacao and Peru.
Comviva expects the LatAm region to drive 15% of the company’s global revenues over the next 3 years. Tech Mahindra holds 67% stake in the company, whereas 20% is owned by the Bharti Group and 13% by WestBridge Capital.
– In November, Mahindra Comviva launched an Android and iOS app called Zerch, which offered local deals and product discovery in Bangalore and Delhi-NCR. According to the company’s blog, Zerch was launched in June in Bangalore and expanded to Delhi in September.
– In November 2014, Comviva entered into a partnership with Econet Wireless and MasterCard to debut its connectMoney Service Manager in Zimbabwe. Following this partnership, Econet Wireless issued MasterCard based debit cards linked to EcoCash Wallet in Zimbabwe.
– In September 2014, the company entered into a partnership with payment solution provider First Data to roll out an mPOS solution in India. Comviva had first announced the global launch of payPLUS, its mPOS solution back in June 2013 without disclosing any signed-up partners for the initiative, thus, making this its first rollout.
– In November 2013, the company inked a three year managed VAS deal with Bharti Airtel’s Bangladesh subsidiary. As part of the deal, Airtel outsourced the management of its service delivery platform in Bangladesh to Comviva.