Route Mobile gains 12% on parent Proximus Global’s collaboration with Nokia

Shares of Route Mobile Ltd gained nearly 12% on Thursday, March 6, after the firm's parent company, Proximus Global, announced it was partnering with Nokia to explore opportunities in network application programming interface (API) solutions.

The leading global digital communication company, in collaboration with BICS and Telesign, has entered into a partnership with Nokia to leverage the strengths of respective players in the field of network API solutions.

This partnership aims to support developers in creating new enterprise applications.

The stock opened at ₹1,024.05 apiece on the BSE, marking a 2.12% increase from the previous closing price of ₹1,002.65. The upward momentum continued, with the stock climbing as much as 11.7% to reach an intraday high of ₹1,119.9 apiece.

Around 10 am, Route Mobile's shares were trading over 7% higher than their 52-week low of ₹954.5. However, they remain 47% below the 52-week high of ₹1,942.

In a stock exchange filing on Wednesday, Route Mobile announced that collaboration between Proximus Global and Nokia will allow both companies to feature their APIs in each other’s marketplaces, fostering greater integration between the telecom ecosystem and various industries.

By combining their strengths, Proximus Global and Nokia aim to enhance developer access to advanced network capabilities, spurring innovation in enterprise communications. The partnership is expected to streamline API adoption, improve interoperability, and expand digital transformation opportunities across multiple sectors.

Proximus Global’s network APIs will be available on Nokia’s Network as Code platform through a developer portal, while Nokia will benefit from Proximus Global’s presence in the telecom market to make its CAMARA and 5G APIs available globally.

This collaboration will enable enterprises and operators to harness rapidly growing API capabilities in areas such as network slicing, a key enabler of 5G private networks, as well as fraud protection and other services.

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