Spice i2i Buys Indonesia's Mobile Firm Affinity For $175M

Preethi J

Spice i2i, part of the BK Modi-promoted Spice Group, has acquired Indonesian mobile player Affinity Group for $175 million. The deal will help Spice i2i establish a presence in the Indonesian market where Affinity has a 22-25% market share in the mobile handset business. Affinity owns the local brand "Nexian" and is one of the largest players in the country.

1 February, 2011