ValueFirst acquires Escorts group's Cellnext

GURGAON, INDIA: ValueFirst, a provider in enterprise and mobility communication services, announced on Wednesday the acquisition of mobile value added services (M-VAS) company Cellnext Solutions Limited (Cellnext).

The acquisition of Cellnext by ValueFirst is a build up to its IPO plans. ValueFirst has seen phenomenal growth and a massive scale up, engineered through a fast paced organic growth, said a press release.

According to Vish Bajaj, CEO, ValueFirst, “The enterprise business of Cellnext offers great synergy with ValueFirst’s core offering for enterprises. The operator business and the m-commerce platform of Cellnext allow ValueFirst to extend its reach deeper in the mobile eco-system.”

However, Escorts group’s strong brand name enjoyed by Cellnext is also an important criterion for the acquisition, the release added. Post acquisition, ValueFirst intends to run Cellnext as a separate company.

Vish informed, “ValueFirst would retain and grow the Cellnext brand. ValueFirst will leverage its massive sales structure and processes to build upon Cellnext’s domain knowledge and vertical specific product offerings.”

“We continuously invested in Cellnext, and today the company has become a repository of frontline mobile messaging solutions. We now have a good buyer in ValueFirst and found this opportunity to complete our planned reorientation towards core engineering businesses.” said G B Mathur, vice president - Law & Company Secretary – Escorts Limited.