Spice Mobility arm acquires 100% stake in SVA Mauritius

Telecom firm Spice Mobility today said its Singapore-based unit has acquired 100 per cent stake in start-up firm SVA (Mauritius) Private in a USD 100 per share cash deal to expand its business in Africa.
"Spice VAS Africa Pte, a step-down subsidiary of the company, has acquired 100 per cent stake in SVA (Mauritius) Private. Consequent to the said acquisition, SVA (Mauritius) Private becomes a wholly-owned step-down subsidiary of the company," Spice Mobility said in a BSE filing.
SVA deals in content monetisation and provisioning of IT and software services. The company was incorporated in June this year.
Spice Mobility did not disclose the total value of the deal.

Spice Mobility closed at Rs 15.55, down 1.89 per cent, from its previous close on BSE today.