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Spice Group Acquires 20 Pc In VoIP Co MediaRing; Synergy

BK Modi's Spice Group has acquired around 18.81 percent in Singapore based Internet Telephony and Data company MediaRing. In addition, Spice can also acquire 1.34% shares if MediaRing employees choose to exercise that option. This will take the the Spice groups total shareholding to 20.14 percent, and will cost them around S$60.16 million - approximately $41.76 Million or Rs. 203 crores. Products & Services MediaRing is a Singapore Stock Exchange listed Voice, Data and Computing service provider, and through Internet Telephony, enables Voice services for carriers, enterprises, service providers and consumers. Among MediaRing's products is a Skype-like free Internet telephony service MediaRing Talk. In July last year, Singapore Airlines had advertised on MediaRing Talk. Other products Voice over Internet Protocol (VoIP or Internet Telephony products), including consumer facing services and products like  Mobile VoIP,  Calling Card,  MediaRing Talk,an Internet Telephony Phone, PC Phone, among products for carriers and enterprises. The company also offers Utility Computing for enterprise customers, IT Infrastructure Hosting and Outsourcing, Broadband Access, Managed Network as well as various network based services are within the scope of this unit. The company was formed in 1993, headquartered out of Singapore, and has offices in Kuala Lumpur, Tokyo, Shanghai, Beijing, Hong Kong, Cape Town, Cambodia and Sunnyvale (USA). Financials MediaRing reported a profit of $410,000 on turnover of $ 57.57 million for the half year ended 30th June 2009, down 11.8 percent from a profit of $465,000 on a turnover of $68,803,000 for the corresponding period last year. According to MediaRing, it was impacted partly by the global economic situation, and partly by price…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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