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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…

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