MUMBAI: MediaTek, a fabless semiconductor company for wireless communications and digital multimedia solutions, has invested $20 million in Spice Digital, a mobile value-added services player in India with a presence in close to 20 countries.
Spice Digital was incorporated in 2000 and has over 30 million subscribers. It offers solutions for telecom operators, enterprises, and government agencies using different mobile connectivity mediums of Voice, IVR, SMS, USSD, WAP, 3G & mobile applications.
MediaTe chairman Ming-Kai Tsai said, "The mobile Internet presents a wealth of opportunity for MediaTek and we believe India‘s IVR and mVAS market, where Spice Digital‘s core business lies, will continue to grow. Through this investment in Spice Digital, we are hoping to capitalize on its market potential and reinforce its strong operator relationship and leading position in India, SEA, Africa and Middle East."
Spice Global chairman Dr. Bhupendra Kumar Modi stated, "India is already one of the fastest growing large economies in the world and has the potential to become the world‘s largest economy. Mobile Internet can help India achieve double digit GDP growth rate and our businesses continue to lead the country‘s move on the digital highway with mobile Internet. MediaTek is well known as a leading Mobile IC solutions provider. We are very excited to have signed this definitive agreement with MediaTek. Through this investment, we can together offer more advanced and innovative services and enrich the digital mobile life of the future."
