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Microsoft picks up minority stake in Affle

Microsoft picks up minority stake in Affle
PTI
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First Published: Tue, Feb 10 2009. 03 45 PM IST
Updated: Tue, Feb 10 2009. 03 45 PM IST
New Delhi: Mobile marketing firm Affle on Tuesday said technology giant Microsoft has picked up a minority stake in the firm for an undisclosed amount.
“Microsoft has picked up a minority stake in Singapore- based Affle Holdings. This investment will help us leverage Microsoft’s brand and expand to countries where we still do not have a presence,” said Affle chief executive cfficer Anuj Khanna .
In turn, Affle’s SMS 2.0 service will help boost the usage of many of the Windows Live services and MSN content on cell phone, and also create a large volume of new mobile advertising inventory, he added.
Asked about the size of investment made and the size of the stake picked up, Khanna declined to comment.
Affle will use the proceeds for building operations and expanding its presence in the country and overseas.
“We have a office in Delhi and now we are looking at Mumbai and Bangalore. Also, we are running test pilots in the US, the UK and Australia and expect to launch services by the end of this year or early next year,” Khanna said.
Affle, which has about 100 firms on board as advertisers, has a presence in India, Singapore, Malaysia and Thailand.
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First Published: Tue, Feb 10 2009. 03 45 PM IST
More Topics: Microsoft | Affle | Corporate News | MAs |