ValueFirst Acquires Cellnext
ValueFirst Messaging, a VAS player, is set to gain a competitive advantage in the fast growing mobile VAS and messaging segment with the acquisition of Cellnext Solutions.
The financial details of the deal have not been disclosed.
ValueFirst has been focusing on the enterprise segment since the last six years. Vish Bajaj, CEO of ValueFirst, said, "While Cellnext was a competitor as it had a presence in the enterprise market, it also has a good penetration among the telecom operator VAS segment. And since we were also keen to diversify, this acquisition made sense."
ValueFirst mainly caters to VAS requirements of the enterprise segment. CellNext also has presence in the enterprise segment, but it also has offerings on the content side for service providers as well. It also offers a m-commerce platform.
"Cellnext was a part of the overall game plan of our erstwhile telecom business Escotel. Around five years ago, we decided to focus on our engineering businesses and divested our non-core businesses. However, we had continued to invest in Cellnext which today is a repository of frontline mobile messaging solutions," said G B Mathur, VP (Law & Company Secretary), Escorts.
ValueFirst aims to operate Cellnext as a separate entity focused on the consumer segment.
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