Chandigarh-based mobile VAS provider Altruist Technologies Pvt Ltd has acquired Kolkata and Hong Kong-based Connectiva Analytics and Insights Ltd (iConnectiva), which offers telecom revenue guarantee, fraud management and Big Data analytics solutions. The deal size remains unrevealed.
“iConnectiva is a growth-stage company and is an emerging leader in cloud-based analytics solutions for telecom providers. We are excited about combining the iConnectiva solution with Altruist’s vast experience and reach in running SaaS platforms to create a data analytics power house,” said Dheeraj Aggarwal, co-founder of Altruist.
iConnectiva is an analytics product and services company with focus on telecom subscriber data monetization. It was founded by Rajesh Sanghi, Arunesh Sharan and Apratim Basu. It has developed a Big Data analytics platform called CMetricA, an integrated. Its customers include various service providers ranging from 2 million-250 million subscribers across mobile, cable, wire-line, media, utilities and business services.
The 100 employees at iConnectiva will join Altruist, increasing the latter’s talent pool to 550 people. iConnectiva will carry on to operate as an independent enterprise from Kolkata with synergies being extended across the Altruist group companies for joint advantage. The geographical spread of the Group will now be more than 40 countries across 4 continents.
Altruist was formed in 2005 by brothers Dheeraj and Anuj Aggarwal. It is involved in areas like mobile social networking, mobile advertising, rich media content and value-added services for telecom operators and brands. The firm has a presence in Southeast Asia, the Middle East, Africa, Europe, North Africa and the US.
“Everybody can do everything, it is just the time that we don’t have. We are buying the time that they (iConnectiva) have taken to build the product,” said Altruist’s Aggarwal. “iConnectiva’s technology will help us making applications like a refrigerator ordering groceries like fruits, vegetables and milk when it is over, without human intervention.”
This acquisition follows the recent acquisition of Bubble Motion. Bubble Motion, a celebrity blogging company with rights to voice blogs of over 1,000 celebrities across Asia including. iConnectiva is the sixth company that Altruist has bought, taking the total amount spent on acquisitions to about Rs 245 crore.