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Film production and distribution company Eros International Media is to acquire a controlling stake in Universal Power Systems, a mobile services company that does business under the name Techzone.
Financial details of the transaction were not disclosed.
Chennai-based Techzone is an aggregator, developer and distributor of entertainment content that is delivered over the mobile platform. It has operations in 14 countries and has over 225 employees.
“With Techzone’s billing integration and distribution in place across major telecom operators and average transaction traffic of over 25 million monthly over the past three years, we expect this deal to complement our existing ErosNow service,” said Jyoti Deshpande, CEO of Eros.
ErosNow is the company’s online video streaming service. Eros recently released a major title in Kochadaiyaan , India's first major performance capture film featuring South Indian superstar Rajinikanth.
The Eros International Media scrip was down by 0.02 per cent to close at Rs 229.7 on the Bombay Stock Exchange today.
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