"80 per cent shareholding of TTGL would be transferred to Manana Innovations management for its assignees during a pre-agreed time span," Manana Innovations said in a statement without disclosing the deal size.
The company's Co-founder Chandan Ghosh said that TTGL has also commenced work on developing e-Commerce Mobile Financial Services.
"Manana Innovations is constantly in search of partnerships and alliances to strengthen and expand its span of service offered to its current and future clients and the acquisition of TTGL is the step in that direction," he added.
The company's product range includes global roaming SIM card and country specific SIM cards.
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