Mobile2win, a VAS (value added services) company, is merging with Chandigarh-based voice and web-based VAS provider, Altruist Technologies in a share swap deal.
Following the merger, Mobile2win will become a part of Altruist. Mobile2Win's MD and CEO Rajat Jain will join the Altruist Group board. The deal is expected to make Altruist-M2W one of the largest VAS players in India.
Explaining the rationale behind the merger, Rajiv Hiranandani, co-founder said, "Over the past few years, we have been involved in SMS, VAS and mobile marketing services but not voice. We had two options, either to create our own entity in that space or merge with an existing player in the same space. Altruist is a voice player but doesn't have SMS services. The merger mainly happened for both companies to complement each other. They can use SMS services from our stable and we can use voice from theirs."
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