Update: VV Raju, founder of Way2SMS told MediaNama that "We have got our company back, and the deal has been reversed." In response to our question on whether there are any cases pending between the companies, Raju said that all cases have either been disposed off or withdrawn. Confirmed: ValueFirst and Way2SMS have settled their acquisition dispute. Vishwadeep Bajaj, CEO of ValueFirst, has confirmed to MediaNama that an out of court settlement was reached with Way2SMS, by virtue of which promoters of Way2SMS have got possession of the business, and ValueFirst has gotten its money back. A statement from Bajaj to MediaNama: "ValueFirst has set its vision firmly on becoming the most preferred digital media company in India. To this end, we continue to invest in organic digital assets and are constantly evaluating acquisitions as well. In this direction we recently launched, fullonbids.com, India’s first free reverse bidding site. Also planned in the same line is one more acquisition due for completion in the coming weeks. We confirm that we have reversed the way2sms.com deal by mutual consent of both the parties – we have got our money back and have returned the way2sms shares. We are a very high growth company and we prefer acquisitions that have close alignment to our strategy and we will continue to be on the lookout for such opportunities." When we tried contacting VV Raju, founder of Way2SMS, his number was busy. We'll update with an official response from the company when we get…
