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mTouche, VASSoft.net Form JV In India
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The joint venture, mBit Infotech Pvt Ltd, will offer P2P mobile content platform for Indian telecom service providers.
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Wednesday, December 09, 2009:
mTouche Technology Bhd, a mobile content technology provider, and VASSoft.net have set up a joint venture company, called mBit Infotech Pvt Ltd, in India to launch peer-to-peer (P2P) mobile content platform for major Indian telecommunication service providers. "This new entity will be a strategic vehicle to launch the mBit network with the Indian service providers," according to the companies.
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The new entity plans to reach out to 500 million mobile users in India at a fee of Rs 3 per day for the platform that allows them to share content files such as photos, video and music using mobile phones.
"The joint venture partner will invest up to $1 million in the first phase to roll out the mBit P2P mobile content offering in India. mTouche Technology India has been evaluating the India market since the year 2006. The Indian market has experienced an increase in the mobile subscriber base-from 150 million to 450 million. This shows the kind of opportunity the Indian market provides for the VAS players. We are here with the best of the technologies and services to address the market requirement," commented Eugene Goh, chief executive officer, mTouche.
"VASSoft.net and mTouche joining hands and forming mBit Infotech combines the financial strength and VAS expertise and a fresh outlook to serve Indian market with unique P2P cum file share application and many more to come later on. The JV is strategically placed to benefit the Indian and Asian market as a whole," commented Raghavendra Aggarwala, chief executive officer, mBit Infotech.
mTouche's mBit network mobile solution is world's first P2P technology for mobile phones. Previously, P2P technology was only limited to fixed-wired networks. The technology, which is applicable to the third and fourth generation (3G and 4G) mobile phones, was introduced internationally about two years ago.
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