MIH India Acquires 20 Percent Stake In ACL Wireless For $12.5 Million

An exclusive on our sister site ContentSutra: South African media giant Naspers owned MIH India has picked up 20 percent stake in mobile value added services company ACL Wireless. As per sources, MIH has invested $12.5 million in ACL Wireless.

We’re also told that ACL Wireless is still operating at a loss. Founded in 2000, the company employs over 220 people and has investment from Inter-Asia Venture Management (IAVM), the venture capital firm based in Hong Kong. It builds mobile community and instant messaging applications, including “Mobile Chat, Mobile IM, Mobile Social Networking & Mobile Photo Sharing” as per their site…this fits into MIH’s mandate for creating a platform agnostic social media company in India.