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 and consumer needs with the help of Internet-based solutions.
Vavia enables telecom companies to enhance customer experience and accelerate revenue growth. Its mobility solutions are deployed across countries in the Indian sub-continent, South East Asia and Middle East. Some of the products developed by Vavia are txtBrowser and Confess.
txtBrowser is an innovative message service that allows any phone to access an exciting range of value added services over SMS and Confess is an anonymous social network that allows users to share secret confessions with their connections and groups without identities being revealed.
Vavia has been ranked amongst Top 100 Technology start-ups by Red Herring.