Spice Digital, a subsidiary of tech firm Spice Mobility, has picked up 26 per cent stake in Bangalore-based start up Vavia Technologies.
No financial details were disclosed.
"Spice Digital has, on September 5, acquired 3,514 equity shares in the share capital of Bangalore-based Vavia Technologies, constituting 26 per cent equity stake in the said company," Spice Mobility said in a filing to the BSE.
Formed in 2008, Vavia is an IT-based start up company that specialises in providing solutions to address business/consumer needs with the help of Internet-based solutions.
Vavia is now a 15-member team fully equipped with the resources and infrastructure to take up projects that deliver solutions to its clients/consumers.
Vavia will develop web based products and solutions which will benefit customers of both companies, the filing said.
Some of the products developed by Vavia are txtBrowser and Confess.
TxtBrowser is a message service that allows any phone to access a wide range of internet services over SMS.
Confess is an anonymous social network that allows users to share secret confessions with their connections and groups without identities being revealed.
