The shares of the IT company specializing in providing cloud communication platform services, which include solutions like messaging, voice, email, SMS filtering, analytics, and monetization, jumped upto 12 percent upon plans of teaming up with Nokia to explore network API solutions.
Price action
With a market capitalization of Rs. 6,575.37 Crores on Thursday, the shares of Route Mobile Ltd jumped upto 11.6 percent after making a high of Rs. 1119.90 compared to its previous closing price of Rs. 1002.65.
What Happened
Proximus Global, the leading global digital communications company combining the strengths of BICS, Telesign, and Route Mobile, has announced that it will partner with Nokia to explore opportunities that utilize their respective strengths in network API solutions to support developers as they create new applications for enterprises.
The collaboration aims to expose Proximus Global and Nokia APIs on each other’s marketplaces, bridging the gap between the various industry segments and the telecom ecosystem.
Proximus Global and Nokia are collaborating to expose Proximus’ network APIs on Nokia’s Network as Code platform, enabling global access to services like 5G network slicing and fraud protection. This partnership will provide developers with easy access to network capabilities across 4G and 5G networks, using Nokia’s Network Exposure Platform and Enterprise API Hub.
Management Commentary
Christophe Van De Weyer, Chief Product Officer at Proximus Global, and CEO of Telesign said: “Proximus Global has traditionally offered a rich set of communication API through our CPaaS offering. We aim now to complement these with a network API to allow enterprise and developers to easily access network capabilities. Our collaboration with Nokia will strengthen our API capabilities, and the work we are doing with developers, all to provide Proximus Global enterprise and wholesale customers with new, value-added solutions,”
Shkumbin Hamiti, Head of Network Monetization Platform, Cloud and Network
Services at Nokia said: “We are very pleased to expand Nokia’s relationship with Proximus Global to the area of network APIs. Our collaboration will give greater access and organization to how Proximus Global’s network is integrated into developer ecosystems and platforms. This will ensure choice, flexibility, and security in creating new applications,”
About the Company
Route Mobile Limited is an India-based CPaaS provider offering messaging, voice, email, SMS filtering, analytics, and monetization solutions for enterprises, OTT players, and mobile network operators.
Financials
The company’s total revenue rose by 14.24 percent from Rs. 1,043.81 crore to Rs. 1,192.42 crore in Q3FY24-25. Meanwhile, Net profit fell from Rs. 105.74 crore to Rs. 82.48 crore during the same period.
Written by Sridhar J
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