Spice Mobility acquires 26% stake in Creative Functionapps

NEW DELHI: Home grown mobile company Spice Mobility has acquired 26 per cent stake in technology firm Creative Functionapps Lab for an undisclosed amount.

The company in a regulatory filing said, " Spice Digital Limited, a subsidiary of the Company, has acquired 26 per cent stake in Creative Functionapps Lab Private Limited."

Creative Functionapps is engaged in the business of telecom and mobile internet and developing innovative products and solutions for the next generation telecom networks. Its products and solutions range from analytics-based telecom network performance and monitoring to mobile and internet consumer services.

"Consequent to the said acquisition, Creative Functionapps Lab Private Limited has become an Associate Company' of SDL," Spice said.

Spice Mobility share closed at Rs 22.85 a unit, up by 5.54 per cent compared to previous close at BSE today.