wordpress blog stats
Connect with us

Hi, what are you looking for?

Spice Mobility acquires 100% stake in Africa based company

Spice Hotspot

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.

Advertisement. Scroll to continue reading.

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 solutions providers Creative Functionapps Lab for an undisclosed amount.

Structural changes

Earlier in June, Hindustan Retail had decided to transfer 100% stake in Spice Online Retail to Ominiventures. This made Spice Online Retail and its subsidiary company Hotspot Sales & Solutions wholly owned subsidiaries of Ominiventures. The same month, Spice Online Retail also incorporated Hotspot Sales & Solutions Private Limited as a 100% owned subsidiary company to enter the business of telecom devices.

Financials: Overall, Spice Mobility posted revenues of Rs 380 crore for Q4 FY16, down from Rs 480.48 crore in the same quarter last year and down 10.97% from Rs 426.48 crore in the preceding quarter. The company reported net loss of Rs 23.62 crore for the quarter, compared to the loss of Rs 70.69 crore in the same quarter last year and a loss of Rs 26.39 crore in the preceding quarter.

Advertisement. Scroll to continue reading.
Written By

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



Releasing the policy is akin to putting the proverbial 'cart before the horse'.


The industry's growth is being weighed down by taxation and legal uncertainty.


Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.


This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

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