ValueFirst Messaging buys Way2Online for Rs 200 crore
, an enterprise mobility and communication services company, has acquired Way2Online Interactive that owns way2sms.com and 160by2.com - websites used by millions to send free text messages to any mobile phone in the country.
The websites became prominent when telecoms regulator Trai imposed a rule in September last year that barred users from sending more than 200 text messages a day.
The all-cash deal that industry sources reveal to be close to Rs 200 crore marks the third complete acquisition by the mobile value-added services player since 2009. The deal has been funded through internal accruals and investment from US-based New Enterprise Associates and Headland Asian Ventures Fund (formerly HSBC Private Equity).