Devas Multimedia plans DMB service in India

Monday, August 11th, 2008
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Bangalore-based Devas Multimedia plans to deliver video and TV channels via a hybrid satellite-terrestrial (DMB) network to mobile devices. Devas is working with the Indian Space Research Organisation (ISRO) on a service to be launched in 2009-10 after ISRO launches its GSAT-6 satellite.

Deutsche Telekom (Frankfurt: DTE)(NYSE:DT) has bought a 17% stake for $75 million. Other investors include Columbia Capital and Telecom Ventures.

More: Deutsche Tele to pay Rs 317 cr for Devas pie (Economic Times)