Spice Mobility enters ambit of Mobile Internet

Spice Mobility, today announced the switch to being a technology company focused on the Mobile Internet space.The company also unveiled the strategic road map to complete the first phase of the switch by Sep 2011. Spice Mobility to inject Rs. 1000 Cr investments planned for current year 2011 with its supply chain,R&D and market intelligence to be headquartered in Singapore along with Seven cluster distribution model to dominate Indian Mobile Retail plus Global Knowledge Center set-up at Noida to keep their digital lifestyle presence in India and across Africa to South East Asian countries.

Spice i2i acquires Affinity Group : An Indonesian leading mobile player having 22-25% market share in the mobile handset business in Indonesia and owns leading local brand "Nexian"

SPICE 121 ENTERS THE INDONESIAN MOBILE HANDSET MARKET VIA A US$175 MILLION ACQUISITION OF THE CELLULAR BUSINESS OF THE AFFINITY GROUP, ONE OF THE LARGEST MOBILE HANDSET PLAYERS IN INDONESIA:

The Affinity Group owns the Selular Business and is engaged in distribution of mobile phones. The Group also deals in distribution of mobile connections from major operators in Indonesia. Based on the unaudited pro-forma management accounts of the Group, it is expected to have revenue in excess of US $ 680 Million (approximately) for the 12 months period ended December 2010.1 The Group is a major player in the vibrant mobile handset market in Indonesia. A global enterprise headquartered in Singapore, Spice i2i (Formerly known as Media Ring Limited ) been listed on the SGX-ST since 1999. The Company is a global one - stop service provider for mobility solutions, voice, data and comp