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Businesswire
CSS Corp Divests Glow Networks to Altruist Group
April 20, 2020
Business Wire IndiaCSS Corp, a new-age IT services and technology support company announced that it has divested Glow Networks to Altruist Technologies Private Limited, a multinational provider of telecom and business process optimization solutions. The sale was concluded in March 2020. Glow Networks is a network design and deployment services company which was acquired by CSS Corp in 2010.
Speaking on the occasion, Manish Tandon, Chief Executive Officer at CSS Corp said, “Over the last decade, Glow Networks has been integral to CSS Corp’s strategy of providing end-to-end network solutions in complex technology environments. With the upcoming 5G revolution underway, we felt that Glow needed to align with a telecom solutions ecosystem to capitalize on this opportunity. Altruist emerged as a suitable parent with its comprehensive suite of telecom products and services, coupled with its diverse geographical presence. We believe the synergies arising from this development augur very well for Glow’s business goals and for its customers.”
The newly appointed CEO for Glow Networks, Dharamjeet Taunque said, “With noteworthy telecom partnerships in more than fifty countries, Altruist’s acquisition of Glow Networks is a strategic step towards diversifying its portfolio. Altruist is a leading telecom-centered solutions provider to more than hundred operators globally. With this acquisition, we aspire to forge our existing expertise in content services, platforms for value added services, big data and billing, business assurance and enterprise solutions, with network design and 5G deployment capabilities. We have acquired Glow in its entirety; therefore, there is no impact on existing customer relationships or obligations.”
Source: Businesswire
Speaking on the occasion, Manish Tandon, Chief Executive Officer at CSS Corp said, “Over the last decade, Glow Networks has been integral to CSS Corp’s strategy of providing end-to-end network solutions in complex technology environments. With the upcoming 5G revolution underway, we felt that Glow needed to align with a telecom solutions ecosystem to capitalize on this opportunity. Altruist emerged as a suitable parent with its comprehensive suite of telecom products and services, coupled with its diverse geographical presence. We believe the synergies arising from this development augur very well for Glow’s business goals and for its customers.”
The newly appointed CEO for Glow Networks, Dharamjeet Taunque said, “With noteworthy telecom partnerships in more than fifty countries, Altruist’s acquisition of Glow Networks is a strategic step towards diversifying its portfolio. Altruist is a leading telecom-centered solutions provider to more than hundred operators globally. With this acquisition, we aspire to forge our existing expertise in content services, platforms for value added services, big data and billing, business assurance and enterprise solutions, with network design and 5G deployment capabilities. We have acquired Glow in its entirety; therefore, there is no impact on existing customer relationships or obligations.”
Source: Businesswire
