Mobile VAS company Spice Digital* has acquired 38.53% stake in the Noida-based online education provider Anytime Learning Private Limited for an undisclosed amount. The company said that post acquisition, Anytime Learning has become an Associate Company of Spice Digital. The terms of the deal weren’t however disclosed.
It’s worth noting that Spice Mobility chairman Dilip Modi is also the executive board chairman of Anytime Learning which operates under the brand name Sunstone Business School. It offers an online Post Graduate Program in Management (PGPM) to working professionals along with an AICTE approved two-year full-time PGPM/MBA program at its Greater Noida & Bangalore campuses.
It’s currently not clear as to what Spice Digital plans to do with these acquisitions, one of the reasons could be to boost its flagging services business. Its revenue from the services business had declined for the whole of FY14 and it had posted revenues of Rs 49.05 crore for the quarter ended September 30, 2014, down 7.36% from Rs 52.95 crore in the corresponding quarter last year.
txtBrowser acquisition: In September last year, Spice Digital had also acquired 26% stake in the Bangalore-based Vavia Technologies that has developed apps like the SMS-based search engine txtBrowser and a Secret-like anonymous social network app Confess. Vavia had earlier partnered Spice Digital to launch txtBrowser, which had claimed to cross 300 million queries as of June 2014. It had claimed to have 4 million unique users globally and 500 developers on its service at the time.
Spice Delisting: Last month, Spice Mobility promoter Smart Ventures Private Limited had also received board approval to delist the company from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company is currently seeking approval for the same from its member shareholders. More on that here.
*Disclaimer: Spice Digital is an advertiser with Medianama