Taiwan-based Mediatek will buy 10 per cent stake in mobile value added services (VAS) firm Spice Digital for USD 20 million. The move will help semiconductor maker Meditek expand its presence in the burgeoning Indian telecom market. "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,Southeast Asia,Africa and Middle East," MediaTek Chairman Ming-Kai Tsai said in a statement. India,with over 700 million mobile subscribers,is witnessing strong growth in the mobile VAS (mobile value added service) market. Citing a study by Standard Chartered,Spice said India is expected to see 100 per cent growth over five years in the mobile VAS segment and will constitute about 10 per cent of total telecom revenue for Indian operators. "Through this investment,we can together offer more advanced and innovative services and enrich the digital mobile life of the future," Spice Global Chairman B K Modi said. The partnership will enable Spice to fulfill its vision of becoming a major player in mobile internet space by jointly developing products and services for the said markets,he added. Spice Digital,a subsidiary of the Spice Global group,has over 30 million subscribers with a presence in close to 20 countries. It also has operations in Africa and Southeast Asia.
