The Hindu Business Line : Lehman invests in Cellebrum

UK-based Lehman Brothers has invested in B K Modi-promoted value added services company Cellebrum. The amount of investment or the terms of the agreement were not revealed. Mr Dilip Modi, President of MCorp Global Group said, "The Indian VAS industry, estimated to be around Rs 2,500 crore is growing at approximately 25-30 per cent year-on-year.

Globally, we believe that a Mobile VAS service with potential 2.6 billion customers is still in infancy, and India and Cellebrum, have an opportunity to lead the VAS revolution. Ubiquitous VAS has the potential to become a fundamental fulcrum for the future creating immense value for the society."

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