Telecom company Spice Mobility today said its subsidiary Spice Digital has formed a joint venture for building analytics-based solutions for device companies.
"Spice Digital Limited (SDL), a subsidiary of the company, has incorporated a joint venture company in the name of 'Adgyde Solutions Private Limited' for the purpose of building analytics-based solutions for device companies," Spice Mobility said in a BSE filing.
The new JV will also create and demonstrate a new business model for device companies.
SDL holds 49 per cent equity stake in Adgyde Solutions.
"Consequent on the said joint venture, Adgyde Solutions Private Limited has also become associate company of SDL," Spice Mobility said.
The stock of Spice Mobility closed at Rs 14.69, up 9.96 per cent, on BSE today.