Mahindra Comviva announces that it has acquired a prominent Latin America mobility solutions player – a controlling stake in Advanced Technology Solutions (ATS) for an undisclosed amount.
“We are excited about joining hands with ATS to deliver an enhanced portfolio of innovative mobility solutions in Latin America. With these enhanced capabilities, we are well positioned to deliver higher value to our present and future customers. Mahindra Comviva is focusing on LATAM as our next growth market said Manoranjan ‘Mao’ Mohapatra, CEO, Mahindra Comviva.”
With this acquisition, the company is targeting a 500 per cent growth in revenue over the next three years from the region. This can be attributed to its strong focus on research and development in mobile payments, analytics and other mobility solutions.
This acquisition adds a number of impressive customers like AT&T, Claro, Entel, Nextel, Oi, Telefonica, TIM, Vivo, etc, to Mahindra Comviva’s portfolio. In addition, Mahindra Comviva will strengthen its in-region presence to deliver complete end to end solutions including development, implementation and post-sales support capabilities in the Latin American market. With this acquisition, Mahindra Comviva will be ranked amongst the top VAS providers in the region.
Commenting on the development, Jorge Brunfman, CEO, Advanced Technology Solutions (ATS) said, “We’re confident that the combined strengths, services expertise, and talent of our companies will bring greater end-to-end capabilities of products, systems integration and services for operators and enterprises, delivering greater value to all our existing customers globally, and providing opportunities for accelerated growth.”
ATS is a 24-year old Latin American company developing technological solutions for telecom operators that enable the intelligent management of communication networks. It provides solutions to leading telecom operators in Argentina, Brazil, Mexico, Colombia, Peru, Ecuador, and five countries in Central America.
We expect LATAM to contribute over 15 per cent of Mahindra Comviva’s global revenue over the next three years added officials.