Elephant Talk, a Dutch-based Mobile Virtual Network Enabler (MVNE), formed a joint venture with Meco Holdings to launch MVNE platforms in Europe and Canada.
The JV will initially focus on launching its platform in Germany, Italy and the UK, followed over the next few years by deployments in , Austria, Canada, France, Greece, Ireland, Portugal and Switzerland.
Elephant Talk, which will have a controlling stake of 51 per cent in the new JV, said that the total investment required to launch these MVNE platforms would be up to $50 million.
"We are already present in The Netherlands, Spain, Belgium and Saudi Arabia with our Mobile Virtual Network or full Brand Enabler platform," Martin Zuurbier, CTO of Elephant Talk Communications, said in a statement. "This agreement with Meco moves us toward our goal of providing Elephant Talk services worldwide. Our new joint venture creates a significant opportunity for Elephant Talk to increase its revenue base in the higher margin MVNE platform business."
Commenting on the agreement, Meco's business development director, Shasheill Kumar, said in a statement that Elephant Talk's multifunctional MVNE platform fulfilled what Meco required for its mobile business in relation to its partnerships in the retail sector. These include mobile payments, NFC and security applications, Kumar said.
For more:
- see this Elephant Talk press release
- see this TelecomPaper article (sub. req.)
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