Route Mobile acquires IP from TeleDNA

Route Mobile, which was listed on the BSE last month, said it had entered into a business transfer agreement (BTA) with TeleDNA Communications in June for acquisition of intellectual property and its associated identified customer contracts on a slump sale basis

New Delhi: Route Mobile, a cloud communications service provider, has completed the acquisition of intellectual property and its associated contracts from TeleDNA for over Rs 12 crore.

Route Mobile, which was listed on the BSE last month, said it had entered into a business transfer agreement (BTA) with TeleDNA Communications in June for acquisition of intellectual property and its associated identified customer contracts on a slump sale basis.

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“The company (Route Mobile) has subsequently signed an amendment agreement to the BTA on October 1, 2020, and has completed the acquisition,” Route Mobile said in a regulatory filing.

Bengaluru-based TeleDNA specialises in the development of telecom-related solutions like MMSC (Multimedia Messaging Service Center), SMSC (Short Message Service Center) platforms, SMS HUB and SMS firewall.

The filing said the lumpsum purchase consideration for the transaction is Rs 12 crore plus taxes. “After the success of our IPO (initial public offering), we plan to be in line with our vision of inorganic growth. We believe this strategic acquisition will augur really well for Route Mobile group and for 365squared Ltd in particular,” Route Mobile CEO and MD Rajdipkumar Gupta said in a filing on Friday.

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