Tanla Platforms to end partnership with Vodafone Idea in November, says move will have revenue impact of ₹17 crore
Vodafone Idea later this year. The two companies had entered into a term sheet in November 2021 for a term of two years. The company explained in a regulatory filing on Friday that the deal to providing secure and encrypted international messaging traffic would not be extended.
“This partnership will not continue beyond the initial term. This would have a revenue impact of approximately ₹17 crore and PAT impact of approximately ₹9 crore on a full-quarter basis post November 2023," the company said in a regulatory filing. The cloud communications firm had entered into a term sheet with Vodafone Idea for provision of Platform and Firewall services for International A2P services in November 2021.
The development came mere hours after Route Mobile said that it had signed an an exclusive partnership with telecom major Vodafone Idea to provide A2P SMS monetisation solutions. “ Route Mobile will provide comprehensive A2P monetization solutions to VIL by deploying its Artificial Intelligence/Machine Learning (AI/ML) driven analytical firewall solution, an SMS Hub on the VIL network, and aggregating international A2P SMS traffic on the VIL network," the company wrote in a press note. Meanwhile, debt-ridden Vodafone Idea sought 30 additional days to pay around ₹1,680 crore for a spectrum auction instalment that was due on August 17.
Chief financial officer Murthy GVAS indicated during an earnings call that the company proposed paying the amount with interest. This came even after one of the promoters has confirmed to the company that it will provide direct or indirect financial support to the extent of ₹2,000 crore in the event of any fund requirement for meeting impending payment obligations. (With inputs from agencies)
. Read more on livemint.com
