Saturday, December 23, 2006

Lehman Brothers to invests in Delhi-based VAS provider Cellebrum

Delhi-based value-added services (VAS) solutions provider Cellebrum is getting funding from Lehman Brothers, reportedly to the tune of $15 mn. Cellebrum is the VAS arm of Delhi-based MCorp Group. The amount raised will be invested in the technological development of the company and for other R&D-related purposes. The firm is also panning to start an incubation fund wherein the money from the fund will be mainly used to takeover smaller players in the VAS segment or get into strategic tie ups to launch more services in the telecom sector.

More on The Economic Times.

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