 "MIH India Invests $12.3 Mn Into ACL Wireless")
MIH India has announced a strategic investment into mobile value added services company ACL Wireless.
The total value of the Investment from MIH’s end is $12.3 Million for a strategic stake of 30% in ACL Wireless.
Commenting on this strategic investment Ashish Kashyap, CEO, MIH India (ibibo.com) said, “Our investment in ACL Wireless is part of our India growth strategy. ACL Wireless has built strong products and services in the mobile VAS space and has strong partnerships and alliances with mobile operators across the globe. This strategic investment will enable MIH owned ibibo.com to make in-roads into the growing Indian mobile value added services market.”
Sanjay Goyal, CEO, ACL Wireless further added, “The partnership will also drive joint efforts for development of consumer based products and services for the mobile. The strategic investment and partnership will also give ACL Wireless an opportunity to access MIH’s global foot print”.
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