Bharti Telesoft is close to acquiring the Bangalore headquartered Jataayu Software, a provider of technology solutions for the mobile handset and value added services (VAS,), for an estimated $20 million.
Sources said Bharti Telesoft, the VAS arm of mobile telecom player Bharti Enterprises, has already entered into an initial agreement with Jataayu and an announcement is likely to be made shortly.
It was widely reported that Jataayu was close to a sell-off. It is believed that Bharti Telesoft was in talks with Jataayu for several months and now has an agreement in place eventhough the latter received proposals from others including overseas suitors.
Read more in The Economic Times article.
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