Tanla Solutions Limited (Tanla) to form JV with ZED Worldwide Holdings SL

Tanla Platforms Ltd. | IT - Software | IT & ITES | BSE: 532790 | NSE: TANLA

01 Apr 2009 Evaluate

Tanla and Zed together propose to establish a Joint Venture Company in India. The joint venture which will be established in the form of a limited liability company to be incorporated in India shall commence operations during the first quarter of the financial year 2009-10 and will mainly engage in development and provision of traditional and next generation mobile application content and services to the large and growing mobile phone users in India. The proposed joint investment in the joint venture by Tanla and Zed shall be approx. Rs 63 crore.

The Indian Value Added Service (VAS) market is estimated to grow to US$4 billion by the year 2010 and will be one of the largest markets in the world. The Indian VAS market is still in the early growth stages. While Zed will lend its worldwide marketing reach and expertise, Tanla will be providing the due technology and platform enablement for the same

The coming of the two global organizations with distinctive and complementing strengths across marketing and technology platforms, is a need of the hour to upgrade the Indian market beyond traditional voice based services. The JV proposes to offer new services for the mobile internet {including 3 G), Mobile entertainment, Mobile Advertising, and Interactive Television verticals.

Zed is a global leader in mobile entertainment services headquartered in Spain, develops and markets entertainment and community products and services for mobile and Internet. The company is the leading mobile value-added services (MVAS) player in the world in terms of revenue and geographical footprint. Zed offers its consumers innovative games for mobile phones and PC based on their own intellectual property, products and services based on Web.

Zed Group operates in 54 countries, including Europe's largest markets, USA and China and holds agreements with 130 wireless operators all over the world. Zed Group has a turnover of USS 545 million in 2007 and the revenue for 2008 is approx. US$ 870 million.

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