Spreadtrum Communications Invests $10Mn In Micromax Informatics
by Irfan Khan
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.