Cartagena Capital advises Openbit on its sale to Indian software firm Tanla Solutions

Munich/Helsinki - June 11, 2008 - Cartagena Capital, the international technology corporate finance firm, acted as exclusive financial advisor to the shareholders of Openbit on its sale to Tanla Solutions Ltd. Tanla Solutions is a leading provider of telecom infrastructure headquartered in Hyderabad, India with offices in London, New York, Dubai, Singapore, Dublin and Colombo. It is listed on both the National and Mumbai Stock Exchanges with a market capitalization exceeding $700 Million (Reuters TNSL.BO and Bloomberg TANS: IN).
Finland-based Openbit is recognized as a leading provider of solutions that seamlessly integrate on-device payment and digital rights management (DRM) for mobile applications. The company provides software vendors and content distributors with efficient and secure means to distribute and process payments for mobile content.

Openbit addresses an installed base of over 20 million Symbian OS-enabled Nokia handsets worldwide. The Company has global billing agreements with nearly 90 operator networks in over 30 countries and with all major credit cards worldwide.

Mr Ollli Väätäinen, Openbit´s Chairman, commented: "We are very happy to have chosen Cartagena Capital as our financial advisor. Their deep sector knowledge, access to international buyers and strong cross-boarder transaction expertise was crucial to making this transaction possible.”

Read more:
http://www.tanlasolutions.com/images/pdf/tanla_openbitpr050608.pdf

For further information contact:
Kim Groop, Partner
Cartagena Capital
Mobile +358 40 7073319
Kim@cartagena-capital.com

About Cartagena Capital GmbH:
Cartagena Capital is an international technology corporate finance advisor with a particular focus on wireless. The company was created by senior industry experts and experienced investment bankers. It is providing advise in the areas of M&A, fundraising and strategy. Cartagena Capital is present in Germany, France, Finland and the US.
For further information visit www.cartagena-capital.com

This release was published on openPR.