Mahindra Comviva strengthens its Latin American presence, acquires a controlling stake in ATS

Enhances delivery capabilities while expanding its mobile VAS solutions portfolio

New Delhi – January 23, 2016: Mahindra Comviva, a global leader in providing mobility solutions, today announced the acquisition of a controlling stake in Advanced Technology Solutions (ATS), a leading provider of mobility solutions to the telecom industry in Latin America for an undisclosed amount.

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 this, Manoranjan 'Mao' Mohapatra, CEO, Mahindra Comviva said, "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."

Speaking on the occasion, 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 with global vision. Since 1991, it has been 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. With a customer satisfaction-centric strategy, ATS works closely with operators, providing efficient solutions in order to optimize their investment and facilitate their business evolution. ATS is established as a leading company in state-of-the-art solutions for mobile, fixed and private networks, which contribute to connect millions of subscribers globally.

Mahindra Comviva is a preferred partner of telecom operators in El Salvador, Guatemala, Honduras, Bolivia, Colombia, Paraguay, Guyana, Curacao and Peru. Over the last few years, Mahindra Comviva has witnessed an increasing demand for its mobile money, prepaid recharge, analytics, messaging and mobile data solutions in the Latin American region.

Mahindra Comviva 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. We expect LATAM to contribute over 15 per cent of Mahindra Comviva's global revenue over the next three years.

About Mahindra Comviva
Mahindra Comviva is the global leader in providing mobility solutions. It is a subsidiary of Tech Mahindra and a part of the USD 16.9 billion Mahindra Group. With an extensive portfolio spanning mobile finance, content, infotainment, messaging and mobile data solutions, Mahindra Comviva enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Its mobility solutions are deployed by over 130 mobile service providers and financial institutions in over 90 countries, transforming the lives of over a billion people across the world. For more information, please visit www.mahindracomviva.com

About Advanced Technology Solutions (ATS)
ATS is an ISO 9001 and ISO/IEC 90003:2004 certified Latin American company with global projection which develops technological solutions that enable the intelligent management of communications since 1991. It provides solutions to the leading telecom operators in Argentina, Brazil, Mexico and Colombia and among other countries through premium partners. With a strategy focused on customer satisfaction, ATS is close to Operators providing efficient solutions in order to optimize their investment and facilitate their business evolution. ATS is established as a leading company in state of the art solutions for mobile, fixed and private networks, which contribute to communicate millions of subscribers around the globe.

For further enquiries, please contact:

Sundeep Mehta
Global PR & Corporate Communications
Mahindra Comviva
Contact: +91- 124-481 9000
Email: pr@mahindracomviva.com

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