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Spice Mobility acquires 100% stake in Africa based company

Consumer tech maker Spice Mobility has acquired a 100% stake in SVA (Mauritius) through its subsidiary Spice VAS Africa Limited, the company informed BSE last week. Spice did not disclosed exact value of the acquisition but however denoted that the cost of acquisition was at $100 per share. According to the filing, SVA deals in content monetization and provisioning of IT and software services, and company records state that SVA was incorporated in July 2003. Spice VAS Afrcia currently claims to have more than 100 Value Added Service (VAS) platforms deployed in partnership with several telecom companies in Tanzania, Kenya, Uganda, DRC, Zambia, Nigeria, Ghana, and South Africa. Some of its partner operators include Etisalat, MTN, Safaricom, Zamtel, among others. Other investments by Spice Last week Spice informed the stock exchanges that it has set up a fully owned IoT subsidiary without providing any further information. Apart from this the company has been stepping up investments under various subsidiaries: In June, Spice said that it will sell a 49% stake in its subsidiary Spice Online to Digitone, a subsidiary of Beijing Digital Telecom Company. Beijing Digital said that the stake purchase was valued at $2.5 million. In May, Spice Mobility acquired entire equity stake in Omniventures and New Spice Solutions. This acquisition made both companies wholly owned subsidiaries of Spice Mobility. In January, Spice Mobility had acquired a 22.54% stake in Delhi-based Sunstone Eduversity, in an all cash deal, but the financials were not disclosed. In July 2015, it had acquired a 26% stake in telecom technology…

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