Route Mobile to acquire 49% stake in Kuwait based mobile communication services provider - Interteleco

Route Mobile to acquire 49% stake in Kuwait based mobile communication services provider - Interteleco

Oct 13, 2021 09:10 IST capital market

Route Mobile announced that Routesms Solutions FZE (RSL FZE), wholly-owned subsidiary the company, has signed a share purchase agreement for the acquisition of 49% of the total outstanding equity share capital of Interteleco along with additional 41% of economic & beneficial interest (including profits, dividends, voting and distributions) of Interteleco.

Interteleco is engaged in the business of modern communication services and integrated services for mobile communication. This acquisition will help establish Route Mobiles direct presence in Kuwait and thus augment its business horizons and integrate its business verticals in Kuwait.

Interteleco is into business of modern communication services and integrated services for mobile communication in Kuwait. Its services include mobile app services, payment solutions, communication services, chatbot, and conversational AI among others. It caters to a variety of industries including telecommunications, financial accounting, inventory management, e-commerce, and project management service companies.

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