Tech Mahindra’s wholly-owned subsidiary TechM Americas has sold its stake in Altiostar Networks for $45 million to Rakuten’s US subsidiary.

The companies have entered into an agreement under which Rakuten has appointed Tech Mahindra as the preferred partner for global go-to market opportunities for the Rakuten Communications Platform (RCP).

In 2018, Tech Mahindra had acquired a 17.5 per cent stake in the Altiostar Networks for $15 million.