Micromax Informatics Limited, India leading handset manufacturer, today announced that it has made a strategic investment inMiMedia Inc, the next generation consumer cloud provider focused on making consumers; digital lives better, simpler, safer and more fun to enjoy and share.
Micromax Informatics Limited, India leading handset manufacturer, today announced that it has made a strategic investment inMiMedia Inc, the next generation consumer cloud provider focused on making consumers; digital lives better, simpler, safer and more fun to enjoy and share. MiMedia enables consumers to access all of their personal content (photos, videos, music, files), on any device, whenever they want. 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.
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 terms of the deal were not disclosed, the strategic investment in MiMedia represents Micromax 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 world is moving to smart devices and, through these strategic investments, we are ensuring that our consumers relish services that enrich their experience, Mr. Rahul Sharma said. We invest in companies that are providing revolutionary solutions for our customers and give them scale and access to our ecosystem. As a mobile first country, consumers; personal media needs to be easily accessed, organized and shared amongst family and friends. We saw this vision and much more in MiMedia.
Chris Giordano, CEO of MiMedia, said, We love India and what is happening with digital in that special country. We are proud to have one of India leading tech companies now as a strategic investor. MiMedia thinks only about consumers and providing the best experience with their personal media. In Micromax, we saw a similar vision – an incredible company that brings superior phones, at affordable prices, with best of breed software to offer a tremendous value to all of India and their expanding footprint across the globe.
About Micromax Informatics Ltd:
Micromax Informatics Limited is one of the leadingconsumer electronics company in India and the 10thlargest mobile phone player in the world (Gartner Q1 2015). Over the past 5 years, Micromax has pioneered the democratization of technology for masses by offering affordable innovations through their product offerings and removing barriers for large scale adoption of advanced technologies.The brand product portfolioembraces more than 60 models today, ranging from feature rich, dual ndash; SIM phones, 3G Android smartphones, tablets, LED televisions and data cards. The company also has many firsts to its credit when it comes to the mobile handset market including the 30-day battery backup, dual SIM phones, QWERTY keypads, universal remote control mobile phones, first quad-core budget smart phone etc. The company has its operations across Russia and SAARC markets. Micromax sells more than 3 million Mobility Devices every month, with a presence in more than 560 districts through 1, 30,000 retail outlets in India. With presence across India and global presence in Russia and SAARC markets, the Indian brand is reaching out to the global frontier with innovative products that challenge the status quo that Innovation comes with a price.
About MiMedia Inc:
MiMedia has built a next generation consumer cloud platform that enables consumers to access all of their personal content (photos, videos, music and files), on any device (smartphones, tablets, desktops), whenever they want. The MiMedia product is a completely new and unique answer to today consumer clouds, which mainly focus on work file sharing and offer utility-like experiences. It is about simplifying, enjoying and sharing the personal media that consumers deeply care about. The product offers consumers a rich and engaging experience plus powerful tools to curate, personalize and (re)discover digital memories. MiMedia is one of the fastest growing technology companies based in New York.