Micromax has as invested in in a local analytics company, as per a latest report from The Economic Times. The report said that the homegrown smartphone maker is planning to invest in a Silicon Valley-based startup that operates in the online price comparison space.
The financial terms of the deal or its acquisition targets has not been decided yet. Micromax also stated that it is looking for more start-ups to invest and would provide between $0.5 million and $20 million to startups in exchange for 5% to 26% of the stake. This investment will allow Microsoft to transform into a service company, added the report.
“We will build some technology and buy some for moving beyond devices into services that offer granular analytical capability of consumer data usage and consumer behavior. The services will be used for Micromax and Yu brand of smartphones and the first signs of integration will be visible within three to five months.”
told Rahul Sharma, Micromax, Co-founder to ET.
Turning into a service company will also allow bring a new and alternate revenue stream for Micromax. The report concluded saying that the team is evaluating and talking to multiple startups in India, Asia, Europe and the Silicon Valley, in areas of healthcare, gaming and entertainment besides analytics and comparison shopping.