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Microsoft picks up 35 percent stake in Oxigen
By siliconindia
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Friday, 25 January 2008, 01:30 IST
New Delhi: Microsoft has acquired a 35 percent equity stake in mobile integrated platform provider Oxigen Services India. Oxigen is an electronic recharge and prepaid distribution brand.
The company expects to expand its business rapidly in the virtual payments and distribution space using Microsoft's web and mobile-based technologies. With the tie-up the company will get access to Microsoft's advertising services, especially digital advertising.
"Through this partnership, Microsoft will help us to scale up our services and technology by providing back-end software services. Therefore, Microsoft services, products and applications will be available on the Oxigen platform," said Pramod Saxena, Chairman and Managing Director, Oxigen Group.
The company will join with Microsoft to drive services and products in developing economies and explore new business opportunities, within India and outside.