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Microsoft picks up 35% stake in Oxigen

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Bs Reporter New Delhi
Last Updated : Feb 05 2013 | 3:06 AM IST
Microsoft has acquired a 35 per cent equity stake in mobile integrated platform provider Oxigen Services India. Oxigen is an electronic recharge and prepaid distribution brand.
 
By partnering with Microsoft, Oxigen expects to expand its business rapidly in the virtual payments and distribution space using Microsoft's web and mobile-based technologies, as well as getting access to Microsoft's advertising services, especially digital advertising.
 
Microsoft will add strategic value to Oxigen's business.
 
"Through this partnership, Microsoft will help us to scale up our services and technology by providing back-end software services. Therefore, Microsoft services, products and applications will be available on the Oxigen platform," said Pramod Saxena, chairman and managing director, Oxigen Group.
 
Further the company will collaborate on a preferred partnership basis with Microsoft to drive services and products in developing economies and explore new business opportunities, within and outside the country.

 

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