South African technology company Huge Group acquired MVNO Tethys Mobile for an undisclosed fee, a move to bolster its software capabilities and develop a platform that enables companies to launch MVNO services.
Tethys was the first MVNO to enter South Africa when it launched in 2006 as Virgin Mobile South Africa, which went into voluntary business rescue in 2020. The company will become a fully owned subsidiary of Huge Group, which will be rebranded to Huge Digital Enablement Proprietary.
Huge Group said in a statement, that it is acquiring Tethys for its software and technology platform and intellectual property. The company intends to leverage them to provide a Platform-as-a-Service (PaaS) to companies aspiring to launch MVNO services.
Tethys’ software and platform includes a multi-tenant capable CRM, Billing and Online Charging System that provides enhanced billing, customer and subscriber management, product, tariff, and real-time rating capabilities.
During the transaction of the deal, creditors who supported Tethys will be settled in full, this includes Tethys subscribers who are due refunds after being cut off from the network when network services were terminated in September 2021.