Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Telecom tech company Altruist buys analytics firm iConnectiva

26/09/2014 by

W1siziisijiwmtqvmtavmjgvmtuvmtivmjuvmty4l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Telecommunications technology company Altruist has acquired mobile fraud management and data analytics startup iConnectiva. 

Dheeraj Aggarwal, chief executive at the Chandigarh-based Altruist, confirmed the deal, but declined to reveal the purchase price. A person with direct knowledge of the development said Altruist paid Rs 37-42 crore in cash for the Kolkata-based iConnectiva. 

"Large IT services firms like Infosys, Wipro and TCS were also eyeing iConnectiva," said a person who was privy to the talks, adding that Altruist moved very fast and completed the buy in just 30 days. 

Spearheaded by former IBM employees Rajesh Sanghi and Arunesh Sharan, iConnectiva helps large telecom players such as Bharti Airtel, Etisalat and Zain Group thwart phone frauds like SIM card cloning, Ponzi schemes, fake lot tery and payment-related frauds. 

It also helps its clients predict hidden insights like customer usage trends and requirement by analysing vast amount of data. It works with mobile operators across 35 countries in the Middle East, Africa, Europe and Asia. Altruist now plans to offer the product to its 70 customers including British Telecom, Reliance and Vodafone, hav ing operations in more than 50 countries. 

"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." 

The 100 employees at iConnectiva will join Altruist, increasing the latter's talent pool to 550 people. An alumnus of IIM Calcutta, Aggarwal, 40, founded Altruist nine years ago along with his younger brother Anuj Aggarwal. 

This article has been extracted from http://economictimes.indiatimes.com/, please click on this link to read the article in full http://economictimes.indiatimes.com/industry/telecom/telecom-tech-company-altruist-buys-analytics-firm-iconnectiva/articleshow/43506312.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Montash is a multi-award winning, global technology recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdkvmjkvmdgvmtmvmjkvmjgyl1vudgl0bgvkigrlc2lnbiaomjuplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Are PSLs a Blocker or an Enabler?

2017-10-02 11:00:00 +0100

The use of a Preferred Supplier List (PSL) was intended to support and strengthen relationships and performance between organisations and their third party suppliers. As the technical landscape continues to evolve at rapid rate recruitment and demand for new skills becomes more intense. Are PSLs still the solution or an obstacle to sourcing the right talent? The traditional PSL A dedicated list of partners intended to guarantee quality and availability ...

W1siziisijiwmtcvmdkvmjevmdgvndmvmduvmtmxl1vudgl0bgvkigrlc2lnbiaomjmplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Why do we punish the victims of hacking?

2017-09-21 09:00:00 +0100

Hacks occur every 39 seconds, with 95% of them targeting governments, retailers and the tech industry. If the hackers are caught, they'll face prison time under the Computer Misuse Act. More often than not, the businesses who are victims of those attacks expose themselves to punishment of their own. The laws that determine the duty of protection owed to businesses and their customers is both vague and broad, making them question just how much protection...