Turkcell will make a 40 million dollar sale

Turkcell Communication Services Inc. (TCELL) made an announcement on July 3, 2023, to the Public Disclosure Platform (KAP) regarding the completion of the sale of the Ultia Platform.

In the announcement made by the company, the following information was provided:

“Regarding our special circumstance disclosure dated February 17, 2023, it is announced that the intellectual property rights of the Ultia Platform, which is under the ownership of our wholly-owned subsidiary Turkcell Technology Research and Development Inc., have been sold to Ultia Technology Software and Application Development Co. Inc., established by Re-Pie Portfolio Management Inc., Turkcell New Technologies Venture Capital Investment Fund, for a price of not less than the value determined by a Capital Markets Board licensed valuation company, amounting to 40.3 million TL + VAT, as of June 30, 2023.”

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