Press release from Business Wire India
Source: One97 Communication Pvt. Ltd.
Wednesday, February 03, 2010 05:33 PM IST (12:03 PM GMT)
Editors: General: Consumer interest; Business: Business services, Information technology, Telecommunications; Technology
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One97 Makes Strategic Investment in tenCube WaveSecure Expands Presence in Mobile Applications Market with Android Developer Challenge Winner
New Delhi, Delhi, India and Singapore, Wednesday, February 03, 2010 -- (Business Wire India) -- One97 Communications (www.one97world.com) has made a strategic investment in Singapore based tenCube, the company behind the popular and critically acclaimed mobile security service WaveSecure (www.WaveSecure.com).
WaveSecure offers users complete protection for their mobile device, data and privacy. It enables users to remotely lock, track and locate lost phones, get a copy of their data securely backed up, and remotely wipe data off the phone to protect privacy. WaveSecure is a popular service that has been adopted by users in more than 130 countries, and has received numerous recognitions, most notably being a Top 3 winner at Google's recent Android Developer Challenge.
This deal gives One97 an entry into the rapidly growing mobile application market, which is a key area of interest for mobile operators and handset manufacturers, and has emerging robust business models via direct download channels such as application stores.
"Device apps is the logical extension from our leadership in Cloud-based telecom applications and services" said Vijay Shekhar Sharma, Managing Director, One97 Communications. "tenCube's young team has created an offering with impeccable value proposition for today's smart phone generation. Our investment in tenCube is in line with our focus on entering into new areas of growth through investments and acquisitions."
Darius Cheung, CEO, tenCube adds, "More important than the financial resources, One97 will also provide strategic access to key Asian markets that will enable us to take the product and business to next stage, as well as the expertise to help us scale from a startup to a global business. We believe that our team's strength and razor sharp focus in mobile security is in great synergy with One97 vast management experience, resources and support infrastructure, and together, we will be able to revolutionize the mobile industry on a global scale".
The investment will give One97 priority reseller rights for WaveSecure in multiple geographies including India. WaveSecure as a popular Smartphone service, is also an excellent entry strategy for One97's portfolio of products for developed markets like Europe and North America. The strategic investment will enhance One97's capability in the design, development and go-to-market in the mobile applications space.
One97 Communications has previously invested in mobile advertising start up Oorja Mobile Services Pvt Ltd as well as incubated PayTM and oc2ps, a mobile commerce initiative and social networking platform respectively. One97 works with telecom operators offering Value Added Services - music download, application discovery, self-care, customer communication, content provisioning, subscriptions alerts and ring back tones. These services are available across all Indian telecom operators and are used by over 300 million telecom consumers. One97 was named the Emerging Company of the year by Voice and Data and was rated a Top 10 Fastest Growing Indian company in Deloitte Fast 500. The company's has sustained growth at 428 percent CAGR.
About WaveSecure
WaveSecure is the world's leading mobile device and data security product that protects users in more than 130 countries. WaveSecure has been recognized as a Top 10 Wireless Innovation by Frost & Sullivan, an overall winner at Mobile Monday Peer Awards, and a Top 3 Winner at Google's Android Developer Challenge. WaveSecure has been featured on numerous popular media including TechCrunch, CNet, LifeHacker, CNBC, and was recently named "2009's Most Awesome Android Apps" by CIO and "App of the week" by New York Times. WaveSecure is available on all Smartphone platforms including Symbian S60, Windows Phone, BlackBerry and Android.
About tenCube
Headquartered in Singapore, tenCube is a pioneer in Smartphone security technology since 2005. Originally designed for military and police use, tenCube launched WaveSecure for consumers in 2007 and has received numerous recognition, including being selected as a Red Herring Asia 100 company. tenCube's current investors include NUS Enterprise and the Singapore Government's SEEDS investment fund. tenCube's customers includes Nokia, Sony Ericsson, Telenor and SingTel.
About One97 Communications
One97 is India's leading telecom application services provider with the most widely deployed applications platform reaching 100% mobile users in India. Every month over 300 million unique telecom subscribers perform over 5 billion transactions on this platform. Collaborating closely with telecom operators One97 works to enhance their revenues and profitability. One97's offerings include content, communication and community applications to consumers and enterprises. Headquartered in New Delhi and funded by Intel Capital, SAIF Partners and Silicon Valley Bank. One97 thrives on disruptive innovation in telecom application space. More information on One97 is available on www.one97world.com.
Concept video
http://www.youtube.com/watch?v=sDcv22ggxtY&feature=PlayList&p=2288ACB008C5E900&index=1
Third party (blogger) demo video
http://www.youtube.com/watch?v=8aoAL3jBKtc&feature=PlayList&p=2288ACB008C5E900&index=2
SingTel (PHONESafe) professional video
http://www.youtube.com/watch?v=29anowMoPFA
CONTACT DETAILS
Smita Rajan, One97 Communication Pvt. Ltd., +91 9818760154, smita.rajan@one97.net
Nidhi Agarwal, One97 Communications Pvt. Ltd., +91 9810105861, talk2one97@one97.net
KEYWORDS
CONSUMER, BUSINESS SERVICES, IT, TELECOMMUNICATIONS, TECHNOLOGY
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