Telstra Corporation Limited
(ASX:TLS) has picked up a stake in US mobile app developer Kony Solutions for $18.3 million US, according to media reports.
As part of the deal, Telstra will enter a reseller partnership with Kony, with the telco to offer Kony’s apps to its business and enterprise customers.
Equally, Telstra’s investment will help Kony expand its presence in the Asia Pacific.
This is the eight substantial investment by Telstra in a small start-up company in the past two years.
The telco’s venture capital arm has made significant investments in other companies such as IPscape, Ooyala, Dimmi and HealthEngine.
Telstra generated a net profit $1.6 billion in the first half of the current financial year.
