| Microsoft has acquired a 35 per cent equity stake in mobile integrated platform provider Oxigen Services India. Oxigen is an electronic recharge and prepaid distribution brand. |
| By partnering with Microsoft, Oxigen expects to expand its business rapidly in the virtual payments and distribution space using Microsoft’s web and mobile-based technologies, as well as getting access to Microsoft’s advertising services, especially digital advertising. |
| Microsoft will add strategic value to Oxigen’s business. |
| “Through this partnership, Microsoft will help us to scale up our services and technology by providing back-end software services. Therefore, Microsoft services, products and applications will be available on the Oxigen platform,” said Pramod Saxena, chairman and managing director, Oxigen Group. |
| Further the company will collaborate on a preferred partnership basis with Microsoft to drive services and products in developing economies and explore new business opportunities, within and outside the country. |
Source: Business Standard