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.
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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.
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