wordpress blog stats
Connect with us

Hi, what are you looking for?

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 revenue share deal with operators but did mention that it will be according to company standards.

Other Investments: Oorja, PayTM, Oc2ps

Advertisement. Scroll to continue reading.

One97 has previously invested in mobile advertising startup Oorja Mobile Services and incubated PayTM, m-commerce  platform and Oc2ps, a social networking platform. In November 2009 Sharma told Medianama that the services Oorja and PayTM were break-even positive but Oc2ps is not revenue generating. Last year the company tied up with Nuance Communications to offer services that uses Nuance’s speech recognition technology to telecom operators and enterprise customers.

One 97 has also been planning for an IPO to fund expansion in India and abroad but the company declined to divulge the exact timing but did say that they were prepared. At present the company claims that every month 300 million unique subscribers perform 5 billion transaction on their platform.


In January 2009, One97 has announced a round of fund raising from Intel Capital and Silicon Valley Bank. The exact amount raised was not disclosed but it is known that Intel Capital had invested a total of $23 Million in three companies – One97 Communications, IndiaMART and Global Talent Track.  SAIF Partners and Silicon Valley Bank which has also participated in the funding had earlier invested $8-10 Million in the mobile VAS company. Sharma had told Medianama then that the funding would be used for organic growth and that they are targeting $100 million in revenues by 2010. Last year, Sharma had told Medianama that only 1-2 percent of revenues is generated from overseas market and the rest was from India. At that time the company claimed revenues worth $25 million.

One97 Communications Plans IPO In 2010; Is The Co Ready, Market Conducive?
Nuance Inks Deals With One97 Communications & Comviva; Details
One97 Communications Launches Payment Platform PayTM
One97 Communications On Voice Service Dependency, Content Arbitrage Model, Low VAS ARPU And “Dakia”
One97 To Invest $30 Million In Organic Growth; $25M Revenues, Targeting $100M in 2010 – Vijay Shekhar Sharma
$23M For One97 Communications, IndiaMART & Global Talent Track From Intel Capital

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'


India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...


There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data


Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.


The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ