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Micromax invests in analytics firm as it readies to enter services business

Micromax has invested in a local analytics company for a ‘significant minority stake’ and is close to investing in a Silicon Valley based startup, which operates in the online price comparison space, reports ET Tech. Micromax did not provide further details of the deal such as the company it purchased the stake in, the amount invested or other terms of the deal. However, it did mention that its looking for more startups to invest in, and would provide between $0.5 million and $20 million to startups in exchange for 5% to 26% of the stake. The report also mentions that Micromax believes this move will enable it to transform into a services company rather than just a mobile phone vendor. Micromax had first mentioned its plans to foray into the services businesses in September last year. The company had mentioned then that the objective was to explore alternate revenue streams, however, Micromax CEO Vineet Taneja told the publication that no developments in this regard is likely to materialize over the next 2-3 quarters. We wonder what Micromax plans as services: will it look to offer WAP services and a Play Store equivalent on its Android phones? Note that the company had earlier inked a strategic partnership with chipset maker MediaTek and telco Aircel to launch bundled device offers for Mediatek powered Micromax products including smartphones, tablets, features phones and 3G dongles. This included offering Rs 10,000 worth free WAP content over three months, a three months free subscription of its…

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