Route Mobile Limited's step down subsidiary Masiv Chile SpA on Thursday acquired 100 per cent stake in Mobilelink Telecomunicaciones SpA for $40,000, the company announced through an exchange filing.
Masiv Chile acquired Mobilelink in order to enter voice business in Chile as it has voice and SMS license in Chile.
The company was incorporated in 2021 and has a presence primarily in Chile. According to the exchange filing the company had not commenced any commercial activity yet. Mobile Telecomunicaciones is a cloud communication platform as a service provider in Chile.
Route Mobile launches SMS fraud prevention solution
Route Mobile last month launched Route Guard, an innovative blockchain based AI and ML solution, with advanced security features to prevent spamming and phishing attacks.
Route Mobile shares
The shares of Route Mobile on Friday at 10:29 am IST were at Rs 1,282.10, up by 1.35 per cent.