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Microsoft picks up equity stake in Oxigen

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CIOL Bureau
New Update

NEW DELHI, INDIA: Microsoft Corp. has acquired equity stake in Oxigen Services India Pvt. Ltd, an IT enabled multi-services platform and distributor of recharges, prepaid subscriptions and bill payments.

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"By partnering with Microsoft, Oxigen expects to expand its business rapidly in the virtual payments and distribution space using Microsoft's Web and Mobile based technologies, as well as getting access to Microsoft's advertising services.

Microsoft will add strategic value to Oxigen's business," said Pramod Saxena, chairman and managing director, Oxigen Group.

Peter Mansour, general manager of Business Development and Strategy at Microsoft, said, "Microsoft has been active in building services and technologies to support the growth of mobile communications for many years, and we believe our alliance with Oxigen will be a win for the many consumers both companies serve."

Oxigen said in a statement that it would collaborate on a preferred partnership basis with Microsoft to drive services and products in developing economies.

© CyberMedia News

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