MediaTek invests $20 mn in Spice Digital, acquires 10% stake

Taiwanese chip manufacturer MediaTek has invested $20 million in Spice Digital, first reported by Medianama. With this investment, MediaTek has acquired 10 per cent share in mobile Value Added Services (mVAS) company Spice Digital. According to a recent report by Standard Chartered, mVAS market in India will grow substantially by more than 100 per cent in the upcoming 5 years. Ming-Kai Tsai, Chairman at MediaTek quotes “we are hoping to capitalize on its (Spice) market potential and reinforce its (Spice) strong operation relationship and leading postion in India, SEA, Africa and Middle East.”

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