MediaTek Inc, a fabless semiconductor company for wireless communications, on Friday announced that it has invested $20 million into B K Modi-promoted Spice Digital Ltd. Spice Digital offers mobile value-added services and has over 30 million subscribers.
Mr Ming-Kai Tsai, Chairman of MediaTek 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 capitalise on its market potential and reinforce its strong operator relationship and leading position in India, SEA, Africa and Middle East.”
Mr B.K. Modi, Chairman of Spice Global, said, “Through this investment, we can together offer more advanced and innovative services and enrich the digital mobile life of the future. This strategic partnership will enable us to fulfil our vision of becoming the leader in mobile internet space by jointly developing products and services.”
Market research states that the mVAS (mobile value added service) market in India will enjoy over 100 per cent growth over five years and will constitute about 10 per cent of total telecom revenue for Indian operators. It is no surprise then that an increasing number of Indian operators are putting attention and resources into mVAS, which represents a huge market potential.
Spice Digital offers solutions for telecom operators, enterprises, and government agencies using different mobile connectivity mediums.