Indian Film Company Eros International Acquires Mobile Firm Techzone
Indian film company Eros International has agreed to acquire a controlling stake in mobile services firm Universal Power Systems Private Limited, which does business under the name Techzone.
Eros did not detail a price tag for Techzone, which is based in the south Indian city of Chennai and is a so-called mobile Value-Added Services (mVAS) operator.
Techzone is an aggregator, developer and distributor of entertainment content, including Bollywood film, music and regional language content, via mobile platforms. The company has relationships and billing integration with major telecom networks in India to distribute its content.
“Techzone will be a strong addition to our ErosNow strategy where content meets technology and distribution,” said Eros CEO and managing director Jyoti Deshpande. “With Techzone’s billing integration and distribution in place across major telecom operators and average transaction traffic of over 25 million monthly over the past three years, we expect this deal to complement our existing ErosNow service. With 870 million mobile subscribers (including over 60 million internet enabled smart phones) in India as of year-end 2013, this is an exciting space for us.”
“Consumption of content through mobile platforms is on the increase, and the timing of this alliance could not have been better,” added Techzone founder, CEO and managing director Naveen Bhandari.
As a big producer and distributor of film, television and digital content, Eros International became the first Indian media company to list on the New York Stock Exchange. The company's movie library includes more than 2,000 titles.
Eros recently released a major title in Kochadaiyaan, India's first major performance capture film featuring South Indian icon Rajnikant.