Altruist Technologies Private Limited, one of India’s largest telecom value-added services (VAS) player, today acquired a US based Web and Mobile Technology company RelayStrategy in a 100% cash transaction. RelayStrategy has been developing custom web and mobile applications for clients across healthcare, finance, insurance verticals.
This acquisition enables Altruist currently a major Voice Social networking player to enter the 3G data applications space and also to monetise RelayStrategy’s technology capability by directly creating and hosting India focussed downloadable apps on various app-stores like ITunes, Android Marketplace, Blackberry Store etc. The acquisition also provides Altruist & Mobile2win a strong opportunity to extend their current offerings on Voice and SMS to RelayStrategy clients.
RelayStrategy’s technology enables the delivery of innovative 3G Value Added Services across various smart phone types through a quick deployment middleware which takes away the manual process of porting and trans-coding for various devices.
Mobile2win, a company acquired by Altruist about 2 years back and an industry leader in the Mobile Marketing and Enterprise Mobility Solutions space, also expects to further augment its position by building on the technology capabilities acquired through RelayStrategy.
Anuj Aggarwal, co-founder, and Managing Director, Altruist, said, “Over the past 6 months to one year there has been a huge surge in the mobile data usage and this is likely to further leapfrog with the 3G roll outs in full swing. Altruist group with billing integrations with all telco’s, a strong portfolio of Voice and SMS Value-added services is well poised to pioneer the next wave of data applications built through the capability acquired along with RelayStrategy. We’ll now also be able to leverage the strong software development capabilities of RelayStrategy to diversify our IT capabilities in high growth markets such as healthcare IT.”
“Acquisition by Altruist/Mobile2Win enables RelayStrategy to exponentially expand the market for its mobile and web-based products/services. We are now able to leverage Altruist’s existing telco relationships to provide cutting-edge mobile solutions for the Indian market.” RelayStrategy CEO and founder/promoter, Navneet Gosal said, who is a veteran of 3 start-ups and has extensive experience in the Healthcare, Aerospace and Telecom industries and is currently an advisor to India Venture Partners (IVP) will continue being part of the Management of RelayStrategy and overlook the transition and integration process.
The back-end operations of RelayStrategy are based out of India and are incidentally collocated in the same complex as Altruist making the integration process a lot smoother and seamless for employee logistics and movement.
Altruist Technologies is a leading mobile social networking service provider having an engaged subscriber base of over 6 million paying users generating more than 50 million minutes every month making it the largest mobile centric community not just in India but across the world. Its strong focus and capability on UGC (User Generated Content) is exhibited in differentiated services like Jobsonphone, Mobile Career Catalyst and Shaadionphone which are unique and relevant for mass consumption. Their solutions seamlessly integrate enterprise IT and wireless environment, enabling all the players in the value chain to deploy value added services quickly and cost effectively.
For more information, please visit www.altruistindia.com