"We are excited about joining hands with ATS to deliver an enhanced portfolio of innovative mobility solutions in Latin America. With these enhanced capabilities, we are well positioned to deliver higher value to our present and future customers. Mahindra Comviva is focusing on LATAM as our next growth market," Mahindra Comviva CEO Manoranjan Mohapatra said in a statement.
Mahindra Comviva is targeting a 500 per cent growth in revenue over the next three years from the region and the acquisition adds a number of customers to its portfolio like AT&T, Claro, Entel, Nextel, Oi, Telefonica, TIM and Vivo, among others.
With this acquisition, Mahindra Comviva will be ranked amongst the top VAS providers in the region.
Mahindra Comviva will strengthen in-region presence to deliver complete end to end solutions including development, implementation and post sales support capabilities in the Latin American market.
"We expect LATAM to contribute over 15 per cent of Mahindra Comviva's global revenue over the next three years," Mohapatra said.