Astro Group picks up stake in Mogae Digital

The Astro Group of Malaysia has acquired 50% stake in Mogae Digital. It will invest upto $ 5 million in the venture.

Mogae Digital is planning to launch a mobile social network services (SNS) portal. The company is also planning to launch its flagship product in the second quarter of the year. It is also planning to introduce mobile games, local search engine and momics (mobile comics) later this year.

Sandeep Goyal (pictured), chairman, Mogae Digital said, "Mogae Digital intends to be at the forefront of the content revolution that will soon unfold with the launch of 3G services in India. But our unique model, while preparing for 3G related opportunities, focuses first on the available 300 million current mobile users. Any phone that supports a basic 160-character SMS is target audience for us."

Raghavendra Madhav, executive director, Astro Group added, "Mogae Digital has the creative understanding required to speak to diverse audiences in the emerging New Media space of the internet & mobile. The products that they have created are versatile and effectively engage consumers at different levels. Given Astro's already large interest in media space, Mogae Digital will be a good addition to our bouquet."