Spice Digital has tied up with its sister concern Spice i2i (previously MediaRing), and plans to launch Internet Telephony service S-Unno, Spice Group Chairman BK Modi has said in an interview with CNBC-TV18.
In September last year, the Spice Group had acquired around 20% stake in MediaRing, a Singapore Stock Exchange listed company, for $41.76 million. At the time of the acquisition, MediaNama had pointed out the possibility of MediaRing’s Internet Telephony business being leveraged by Spice Digital and the leveraging of enterprise/carrier services.
Spice i2i launched S-unno in June this year. The service allows users to be reached at a single phone number across platforms – mobile, IP Phone, PC, via GPRS, 3G and Wifi – and offering cost savings of up to 50 percent. The service is available for Symbian, Android and Windows Mobile operating systems for mobile phones, Windows 7, Vista and XP for PCs, and a single phone number (in Singapore). Spice Mobility also comes into play, with S-unno embedded in handsets.
Spice Digital IPO Plans
MediaNama had reported earlier that Spice Digital has plans to go in for an IPO. In the interview, Modi says that Spice Digital is valued at around Rs. 800 crore (according to the reverse merger ratio with Spice Mobiles) and plans to dilute around 25% to the public, with an additional 5% diluted in a pre-IPO round of fund-raising. The DRHP should be filed by the end of this calendar year and the IPO should take place sometime in 2012. Modi outlined the synergy for Spice Digital with Spice Group companies – Spice Digital’s VAS will be retailed through telecom operators, devices and through retail outlets owned by the group. Retail kiosks for VAS have already been rolled out at Spice owned HotSpot retail outlets. (also read:
Spice Plans Large Mobility Play: New Entity, Revenues & Synergy)
Spice Digital intends to the use the money for mergers and acquisitions, expecting a consolidation in the VAS market and a greater need for funds for marketing services for 3G. Spice Digital, Modi says, reported profit margins of over 20-25%. More in the video here
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