Spice Digital Acquire 26% Stake In Vavia Technologies

Spice Digital, a subsidiary of Spice Mobility, has bought 26% stake in Bangalore-based startup Vavia Technologies. The companies did not reveal the financial details of the transaction. "Spice Digital has, on September 5, acquired 3,514 equity shares in the share capital of Bangalore-based Vavia Technologies, constituting 26% equity stake in the said company," Spice Mobility said in a filing to the Bombay Stock Exchange (BSE).

Vavia Technologies is an IT startup that caters to business/consumer needs with the help of Internet-based solutions. The company now has the resources and infrastructure to undertake projects that deliver solutions to its clients/consumers.

Vavia will develop web-based products and solutions, which will benefit customers of both the companies, the filing to the BSE said.