Telstra Invests in Mobile Apps Provider Kony
Published on: 26th Jun 2013
By: Ian Mansfield
Australia's Telstra has made a USD18.3 million investment in Kony Solutions a U.S. mobile and multi channel application platform provider.
Telstra Ventures Managing Director Mark Sherman said as well as taking a stake in the company, Telstra would offer Kony's pre-built applications and applications platform to its business customers.
Mr Sherman said the move aligned to Telstra's strategy of developing new growth businesses and builds capability in Telstra's domestic mobiles portfolio.
"Kony offers business and enterprise customers a library of innovative pre-built mobile applications including the Kony Platform that enables customers to write their own applications and deploy them across multiple channels simply and at low cost," Mr Sherman said.
"For Telstra this is a win-win - we are investing in an innovative company and adding immediate value by being able to offer Kony's products to our business and enterprise customers.
Kony's CEO Raj Koneru said Telstra's investment would help Kony expand into the Asia Pacific region more quickly and enable the company to leverage Telstra's well established customer relationships.
Mr Sherman said Telstra Ventures has a three to five year plan to build an investment portfolio of 20-30 companies.