Spice buys over 20 pc in MediaRing for Rs 200 cr

“Spice will hold approximately 18.81 per cent to 20.14 per cent of the fully diluted share capital of the company, depending on how many employee option shares are purchased by Spice from the employee option holders,” MediaRing said in a filing to Singapore Stock Exchange.

MediaRing is a service provider for voice, data and computing services with a leading edge on Voice over Internet Protocol (VoIP) technology, and has global presence with subsidiaries in Kuala Lumpur, Tokyo, Shanghai and Beijing.

The acquisition of MediaRing would further strengthen its position in the technology-driven services, a senior Spice official said. Asked whether Spice would further increase its holding in MediaRing, the official declined to comment.

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