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Mobile VAS provider Techzone to invest 
30 Crore for expansion
By siliconindia
Chennai: Chennai-based mobile VAS Company, Techzone, plans to invest 
30 crore to expand its product line including its venture into the mobile gaming service business, in the current financial year, reports Business Standard.
The company claims to have a reach of 40 lakh users across various operators in India in the Caller Ring Back Tones segment. They are now planning to enter into the mobile gaming space for which they are in talk with two international gaming service providers for collaboration, said Naveen Bhandari, Director Techzone. Earlier, the company announced a tie-up with Universal Music and Sony Music for package and delivery of international and regional music for mobile users. They plan to invest 10 crore in the gaming business.
The company would invest 30 crore from internal accruals, focusing on other areas of expansion like content generation and music platforms. They expect to launch the gaming services by mid-July this year and set a target to capture around 15-20 percent market share in the mobile gaming segment in the first year of operation. Currently with a turnover of 50 crore, the company expects a 100 percent growth in the current fiscal through the tie-ups, said Bhandari.
30 crore to expand its product line including its venture into the mobile gaming service business, in the current financial year, reports Business Standard.
The company claims to have a reach of 40 lakh users across various operators in India in the Caller Ring Back Tones segment. They are now planning to enter into the mobile gaming space for which they are in talk with two international gaming service providers for collaboration, said Naveen Bhandari, Director Techzone. Earlier, the company announced a tie-up with Universal Music and Sony Music for package and delivery of international and regional music for mobile users. They plan to invest 10 crore in the gaming business.
The company would invest 30 crore from internal accruals, focusing on other areas of expansion like content generation and music platforms. They expect to launch the gaming services by mid-July this year and set a target to capture around 15-20 percent market share in the mobile gaming segment in the first year of operation. Currently with a turnover of 50 crore, the company expects a 100 percent growth in the current fiscal through the tie-ups, said Bhandari.
