The mobile virtual network enabler (MVNE) business of Pareteum, a US-based communication solutions company, has been bought by Circles Global, a Singapore-based digital telco. The deal’s financial specifics were kept confidential.
Through the purchase, Circles Global can extend its operations in Asia, Europe, the Middle East, Africa, and the Americas.
After the transaction, Pareteum’s MVNE division staff will become a part of Circles Global. The unit’s present partners and clients will be transferred to a Singapore-based company.
In 2014, Rameez Ansar, Abhishek Gupta, and Adeel Najam created Circles Global. In addition to running its telco brand, Circles Life, the business offers operators worldwide a SaaS-based telco-as-a-service.
Circles-X, the company’s main product, is a full-stack platform that enables customers to build their own telecom brand. The company claimed that its technology had assisted telecom partners in cutting operating expenses by more than 50%.
Pareteum, meanwhile, offers communications platforms as a service. Among other things, it provides messaging, cloud infrastructure, IoT solutions, and mobile and Wi-Fi services.
