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