Film entertainment firm Eros International on 9th June has announced that it has signed an agreement to buy a controlling stake in mobile value added services provider Universal Power Systems Private Ltd (Techzone) for an undisclosed sum.
Commenting on the deal, Eros CEO Jyoti Deshpande said: "Techzone will be a strong addition to our ErosNow strategy where content meets technology and distribution. We expect this deal to complement our existing ErosNow service."
"With 870 million mobile subscribers (including over 60 million internet enabled smart phones) in India as of year-end 2013, this is an exciting space for us," she added.
The transaction is subject to customary closing conditions and execution of definitive agreements, the company said in a statement.
Source: http://cablequest.org/news/telecom-news/item/5153-eros-international-to-buy-controlling-stake-in-techzone.html
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