Micromax invests in cloud provider MiMedia

By GizBot Bureau

Micromax Informatics Ltd, India's leading handset manufacturer, on Monday said that it has made a strategic investment in consumer cloud provider MiMedia.

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Micromax invests in cloud provider MiMedia

"This is the first international investment by Micromax as part of its strategic vision of building a robust eco-system of world class devices and services through innovative technologies from around the world to its consumers," the company said in a release.

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MiMedia enables consumers to access all of their personal content (photos, videos, music, files) on any device during a time of their choice.

Micromax co-founder Rahul Sharma said that the company would start to focus on making investments in software startups, as it looks to continue to differentiate its smartphones.

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"While we are not disclosing the terms of the deal, the strategic investment in MiMedia represents Micromax's first outside of India. Micromax has set-up a mergers and acquisitions team under Kumar Shah to look at technology startups across the US, Europe, Israel and India," the company statement added.

Source IANS

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