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One97 Communications Acquires Minority Stake In tenCube

Indian mobile VAS Company One97 Communications has acquired a minority stake of less than 25% in Singapore-based tenCube, a smart phone security technology developer firm and may increase its stake in the future. Economic Times reported that the company bought a 25 percent stake in the company, and the deal is valued close to Rs 1 billion, but MediaNama has learnt from Vijay Shekhar Sharma, MD, One97 Communications that the deal is below Rs. 100 million and the stake is also less than 25 percent. On why the company chose to buy a small stake, Sharma said, "At present, tenCube was doing well on its own and that the amount invested is sufficient for the Singapore-based company." He added that this is a completely strategic investment by the company and there are chances it may increase its stake in the future. The deal will allow One97 reseller rights for WaveSecure, a security service for smartphones developed by tenCube, with which One97 will enter Europe and North America. To Leverage License Tie Ups With Nokia For WaveSecure In India In India, said Sharma, they will deploy the service in two ways: They will tie-up with handset manufacturers, who will acquire the license and embed the service with the handset. One 97 has already tied up with Nokia and the Nokia N96 and N97 handsets will come with the service. Second, users can access the service from operators and and pay charges of Rs 30 or more. Sharma did not disclose the…

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