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Route Mobile to buy Teledger Blockchain and DLT platform for Rs 130 crore

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HIGHLIGHTS :

  • Root Mobile’s subsidiary will pay Teledgers Rs 10 lakh for the license fee.
  • After this acquisition, enterprises will be able to do digital transactions.
  • Blockchain-based encrypted messages will become more secure.

Root Mobile’s subsidiary will pay Teledgers Rs 10 lakh for license fee.

Enterprise communications service provider Route Mobile is buying Teledgers Technology’s blockchain and DLT platform. It is based on Blockchain Artificial Intelligence. Root Mobile is going to buy it for Rs 130 crore. As per the agreement, Route Ledger, a subsidiary of Route Mobile, will pay Rs 4.9 crore as advance to Teledgers within 30 business days. It will pay Rs 125 crore once the platform is fully owned by the company. Root Mobile has given this information in the agreement filing.

Route Mobile is going to buy Teledgers Technology’s blockchain and DLT platform for Rs 130 crore.

After this acquisition, enterprises will be able to do digital transactions.

Further, Root Mobile’s subsidiary will pay Rs 10 lakh to Teledgers towards license fee and operational performance of Teledgers. Currently Route Ledger provides firewall analytics and gray route monitoring solutions to mobile network operators. After this acquisition, Route Ledger will also be able to make DLT (distributed ledger technology) and encrypted messaging solution available to mobile network operators.

“The capability and reach of Root Mobile, combined with Teledgers’ blockchain-based technology and expertise, provides a superior solution for telecom operators and enterprises in global markets including Africa, Latin America, the Middle East and Asia Pacific (APAC),” Route Mobile Managing Director and Group CEO Rajdeep Kumar Gupta said in a statement.

Blockchain-based encrypted messages will become more secure.

Route Mobile said it wants to enable telecom operators and enterprises in Latin America, the Middle East, Africa and Asia Pacific with the DLT platform. Telecom operators can then efficiently manage and regulate A2P (Application to Person) communication (SMS/Voice calls) through a state-of-the-art blockchain-based solution.

In addition, by using a secure channel through a blockchain-based secure encrypted messaging solution, enterprises will be able to conduct digital transactions and avoid data leakage between intermediaries.

Dharamvir Singh, Director and Chief Operating Officer, Teledgers Technology, said, “Route Ledger is essential for implementing Teledgers’ DLT and deploying a globally secure encrypted messaging solution.

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