Spreadtrum Communications Invests $10Mn In Micromax Informatics
China based Spreadtrum Communications is investing $10Mn in Micromax Informatics. Post investment, Spreadtrum will become one of Micromax's preferred mobile chipset suppliers.
According to the release, the two companies will work together through a joint R&D collaboration to deliver innovations across Micromax's portfolio of products.
Gurgaon based Micromax Informatics Ltd is a domestic handset maker established in 1991. In January'10, TA Associates invested R225Cr in Micromax for a 20% stake. The company then raised R200Cr from Sandstone Capital, Sequoia Capital and Madison India Capital in September'10.
It had filed for a R450Cr IPO in September'10, but the regulatory approval for the IPO lapsed in January this year. JM Financial, Citigroup, Edelweiss and Nomura were the book-running lead managers to the issue.
It had plans to set-up a handset manufacturing facility in Tamil Nadu, utilising 50% of the proposed IPO’s proceeds, while it wanted to use the remaining amount for marketing and for acquisitions. According to reports, Micromax had said that it had decided to defer the proposed IPO to focus on product development, and would look at a public listing at a later time.
Micromax currently ships more than 60 models ranging from dual-SIM feature phones to 3G Android smartphones.It has an established sales presence across India and in Hong Kong, Bangladesh, Nepal, Sri-Lanka, Maldives, UAE, Kingdom of Saudi Arabia, Kuwait, Qatar, Oman, Afghanistan and Brazil. It claims to be the 12th largest handset vendor globally and ships over 40 lakh handsets every quarter.
Spreadtrum Communications is is a fabless semiconductor company that develops mobile chipset platforms for smartphones, feature phones and other consumer electronics products, supporting 2G, 3G and 4G wireless communications standards.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2012-03-15 | Micromax Informatics - Spreadtrum Communications | M&A |
Spreadtrum Communications |
10.00 |
| 2012-01-30 | Micromax - IPO | IPO / Offerings | 135.76 | |
| 2010-09-16 | Micromax- TA Associates | Private Equity |
TA Associates Inc. |
21.87 |
| 2010-09-16 | Micromax - Sandstone Capital, Sequoia Capital, Madison Capital | Private Equity |
Sandstone Capital LLC Sequoia Capital India Madison India Capital |
43.60 |
| 2009-12-19 | Micromax Informatics - TA Associates(PE) | Private Equity |
TA Associates Inc. |
21.61 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 04/01/2013 | M&A | Zamil Industrial Investment Company | Advantec Coils Private Limited | 1.85 | Completed |
| 01/01/2013 | M&A | Keyline Brands Limited | Soft & Gentle | - | Completed |
| 19/12/2012 | M&A | Hometeck Commercial Agencies Private Limited | Meenumix | - | Completed |
| 30/11/2012 | M&A | Mitsubishi Pencil Co Ltd | Linc Pen & Plastics Limited | 3.62 | Completed |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Micromax Informatics Ltd |
Rajesh Agarwal Rahul Sharma Sumeet Arora Vikas Jain |
Block-A, Plot No. 21/14, Naraina Industrial Area, New Delhi-110028. Delhi, India | Spice Mobiles Limited | http://www.micromaxinfo.com |
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