 "Tech Mahindra")
IT services provider Tech Mahindra has divested its holding in Boston-based Altiostar Networks to Rakuten Mobile Inc. This comes as Tech Mahindra has been appointed as a preferred partner for global go-to-market opportunities for the Rakuten Communications Platform (RCP).
As a part of the partnership, the Pune-headquartered company will sell 1.85 crore preferred shares for a consideration of $45 million to the Japanese e-commerce conglomerate. "As it is a minority investment there is no contribution to turnover or revenue by Altiostar Networks during the financial year ending 2020," according to an exchange filing. It is to be noted that the
