VAS TOP 10: #9 Altruist Technology : Risk Reaped Rewards



Kudos to man’s affinity towards risk! From time immemorial mankind has made advances due to his innate desire for risk/experiments. One such risk rewarded Dheeraj Aggarwal with a potential company, Altruist Technologies—he quit a real fat pay cheque and a secured job as a COO, without any wealth to invest either—but his diligence, knowledge, risk, and dedication paid off. Within a span of 5 to 7 years, he has established over 12 to 13 offices across the country and spread wings to the international markets.

Since its inception in 2005, Altruist has established itself as a VAS Enabler. It is leapfrogging with an aggressive inorganic strategy. In 2009, Altruist raised PE funding from Norwest Venture Partners, Nexus India Capital and SVB India Capital Partners Fund. Altruist has presence in Southeast Asia, Middle East and Africa. It will soon expand into Europe, North Africa, and US markets.

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Feathers to the Cap

The company which struggled hard to find initial investments, has reached to the state of acquiring other smaller companies and has dumb-founded the industry at large as it kept adding feathers to the cap. This 6-year old company acquired a 13-year old company, Mobisoft Telesolutions (Phoneytunes.com) in November 2011. Altruist took 70% stake in Mobisoft. In August 2011, it had also picked up 20% stake in Vegam Solutions, a mobile VAS retail and voice gaming company founded by Ingersol Jayakuma.

The year 2011, has been a dhamaka year for Altruist Technologies as it made two overseas acquisitions—in September, it acquired US based software development company for a value of $25 mn and in July it acquired US based RelayStrategy LLC, a mobile applications and IT solutions development company, in an all-cash transaction. In 2009, Altruist acquired Mumbai based Mobile2Win in a share swap transaction.

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In July 2012, the company picked up almost 100% stake in Teligent Telecom, a supplier of infrastructure solutions and value added services to telecom carriers. This transaction will help the company to expand its presence in Europe, North Africa, and US.


Service Competency

The company’s services/solutions comprise voice and web based value added services, business process outsourcing, information technology and interactive communication solutions to carriers, internet service providers, communication service providers, and corporates. It facilitates communication service providers to deliver applications for entertainment, e-commerce, and enterprises. It offers various ranges of solutions from network design, consulting, project implementation to training and technical support professional services. It offers voice and SMS based, jukebox, horoscope, job portal, downloads, matrimonial, social networking, call center and financial outsourcing, and data and voice management services.

Its core competency lies in web technologies-be it XHTML/CSS, asp.net, PHP or Java and the associated frameworks and CMSs like Joomla, Drupal, WordPress, Document Management System, BIOMETRIC attendance system, SEO, e-commerce/m-commerce solutions. Altruist Technology provides Document Management Solution (eValue Solution) and workflow to all the small and middle size businesses.

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