BackEros acquires mobile VAS firm Universal Power System
Eros says the transaction is yet to be finalized and is subject to execution of definitive agreements
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Mumbai: Film content production and distribution firm Eros International Media Ltd on Monday said it has agreed to acquire a controlling stake in Universal Power System Ltd (UPSL), a leading mobile value added services (MVAS) provider for telecom operators in India, for an undisclosed amount.
UPSL trades under the name Techzone, and is an aggregator, developer and distributor of entertainment content via mobile platforms.
“With Techzone’s billing integration and distribution in place across major telecom operators and an average transaction traffic of over 25 million monthly over the past three years, we expect this deal to complement our existing ErosNow service," said Jyoti Deshpande, chief executive officer of Eros.
“With 870 million mobile subscribers (including over 60 million Internet-enabled phones) in India by the end of 2013, this is an exciting space for us," she added.
Techzone bills the customer directly through its billing platform for short message services (SMS), wireless application protocol (WAP) and interactive voice response (IVR), while caller ring back tones is marketed and distributed by Techzone but billed by telecom operators directly.
Eros acquires, co-produces and distributes Indian films across several formats like cinema, television and digital new media.
The transaction is yet to be final and is subject to execution of definitive agreements, Eros said.
Shares of Eros fell 0.02% to Rs229.70 on BSE, while the benchmark Sensex rose 0.72% to close at 25,580.21 points.
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