Business Wire

The CEO of Tecnotree Corporation, Padma Ravichander, acquires 15 million shares from Fitzroy Investments Limited

Share

Padma Ravichander, the CEO of Tecnotree Corporation (“Tecnotree”) has today entered an agreement, wherein Fitzroy Investments Limited (“Fitzroy”) will sell 15 million shares of Tecnotree to Padma Ravichander for a purchase price equivalent to the 10-day moving-average of the Tecnotree share price on the NASDAQ Helsinki Stock Exchange. The sale of these shares will be conducted in multiple tranches and will be completed by September 2022. The parties have agreed and are obliged to make the necessary market notifications as the tranches materialize.

“Tecnotree has been the best performing investment in our portfolio. It is our intention to remain Tecnotree’s single largest shareholder and maintain a long-term investment relationship in Tecnotree. However, we have come across a strategic opportunity to sell 15 million shares to Mrs. Ravichander, one of the key drivers behind Tecnotree’s recent success. With this transaction Fitzroy wants to signal its gratitude and commitment to the continued valuable co-operation with Padma,” said Neil Macleod, the Director of Fitzroy Investments Limited and the Chairman of the Board of Tecnotree.

“Tecnotree's purpose is to bring the Finnish technology competence and state of the art 5G technology solutions across the world. We have a clear growth strategy to create sustainable digital ecosystems with our customers and partners. The transaction with Fitzroy underpins our collective long-term commitment to the execution of our digital strategy,” said Padma Ravichander, the CEO of Tecnotree.

About Tecnotree: Tecnotree is the only full-stack digital business management solution provider for digital service providers, with over 40 years of deep domain knowledge, proven delivery, and transformation capability across the globe. Our open-source technology-based agile products and solutions comprise the full range (order-to-cash) of business process and subscription management for telecom and other digital service providers with a pre-integrated B2B2X partner ecosystem across gaming, heath, education, OTT and more. Tecnotree products, platforms and partners support emerging ecosystems of over 1 billion subscribers across 70+ countries. Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Padma Ravichander, CEO Tecnotree OYJ
Email: marketing@tecnotree.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Kalray’s Smart Storage Acceleration Card K200-LP™, Now Integrated into Pixitmedia’s Software-Defined Storage Solution Pixstor27.6.2022 18:00:00 CEST | Press release

Kalray (Euronext Growth Paris : ALKAL) (Paris:ALKAL),a leading provider in the new generation of processors and acceleration cards specialized in Intelligent Data Processing from Cloud to Edge, is delighted to announce the first outcome of the synergetic combination of its DPU (“Data Processing Unit”) processor-based acceleration card K200-LP™ with newly acquired software-defined storage and data management solutions provider pixitmedia1, a division of Arcapix Holdings Ltd dedicated to the Media & Entertainment markets. The launch of this new joint product comes just months after Kalray's acquisition of Arcapix Holdings Ltd and the new product will be showcased at Flash Memory Summit (USA) in August. KALRAY’S ACCELERATION CARDS AND DPUs AT THE HEART OF AWARDED PIXITMEDIA’S SOFTWARE-DEFINED STORAGE AND DATA MANAGEMENT SOLUTIONS Media & Entertainment customers are amongst the most demanding in terms of data storage and data management. The award winning pixstor and ngenea products are de

CORRECTING and REPLACING Minister of Trade and Industry to Launch the Norwegian Government’s Battery Strategy at FREYR Battery’s Mo i Rana Site27.6.2022 17:59:00 CEST | Press release

Please replace the release with the following corrected version due to multiple revisions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220627005371/en/ "Sentraltomta" inside Mo Industrial Park (Photo: Business Wire) The updated release reads: MINISTER OF TRADE AND INDUSTRY TO LAUNCH THE NORWEGIAN GOVERNMENT’S BATTERY STRATEGY AT FREYR BATTERY’S MO I RANA SITE FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production, is pleased to confirm that the company will welcome the Minister of Trade and Industry to launch the Norwegian Government’s National Battery Strategy at FREYR’s planned gigafactory location on June 29th in Mo i Rana, Norway. FREYR’s Chief Executive Officer, Tom Einar Jensen, remarked, “We are exceptionally proud that the Norwegian Government has selected FREYR’s planned gigafactory site in Mo i Rana to make this historic announcement. We look forward to extending a wa

Walton Global Makes Distributions of $137 Million to its Investors during Second Quarter 202227.6.2022 17:45:00 CEST | Press release

Walton Global, a real estate investment and land asset management company with US $3.6 billion under management, announced distributions made to investors will total more than US $137 Million in the second quarter 2022 as a result of strong land sales in various assets across North America. A total of US $130 Million has already been distributed to investors with more than US $7 Million expected to be made at the end of June 2022. “We have been managing our land sales pipeline diligently across all of our assets in both the U.S. and Canada,” said Kate Kaminski, chief operating officer at Walton Global. “This is the first large wave of investor distributions in 2022, but we have many other significant projects that are expected to close throughout the year.” Walton has investors that span across 73 countries around the globe. The US $137 Million distribution is an aggregate amount made up of U.S. and Canadian assets within Walton’s investment structures. U.S.-based investors received di

Landmark Study Reveals New Technology from DeBogy Molecular Significantly Reduces the Bacteria and Deadly Infection that Can Occur Following a Surgical Implant27.6.2022 15:15:00 CEST | Press release

DeBogy Molecular, Inc, a biotech startup that specializes in antimicrobial surface modification, today announced the findings of a landmark in vivo research study that affirms the effectiveness and safety of their new technology to kill the dangerous bacteria that proliferates on the surface of a medical implant following surgery. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220626005067/en/ Wayne Gattinella CEO, DeBogy Molecular, Inc (Photo: Business Wire) Infection resulting from bacterial biofilm that forms on the surface of a medical implant represents one of the most serious complications that can follow orthopedic surgery or the implantation of a medical device. Implant related infections account for over half of the 2 million yearly healthcare-associated infections in the U.S., at a cost of over $27 billion dollars annually. A preclinical research study was conducted by Vivexia, an independent Clinical Research Orga

NielsenIQ Accelerates Expansion of Global Retail Strategy with Addition of Retail Lab Leader, Dawn E. Norvell27.6.2022 15:00:00 CEST | Press release

NielsenIQ has strengthened its leading global retail practice with the addition of Dawn E. Norvell as Global Head of the newly formed NielsenIQ Retail Lab. In her new role, Norvell will lead a progressive team created to better identify retail client needs, design solutions, and enable retailers to use NielsenIQ's full suite of products to help drive their business. Norvell will build a sales and commercial management strategy designed to expand NielsenIQ's retail analytics focus and enable growth within the business unit. “The NielsenIQ Retail Lab is an important part of our global retail strategy & company success, and Dawn’s industry-leading knowledge and background in the global marketplace gives a rare viewpoint of the current retail climate,” said David Johnson, Global President of Retail at NielsenIQ. “Her extensive first-hand experience will enhance our broad range of go-to-market client offerings and add significant depth to our retail team. We are thrilled that NielsenIQ cont

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom