Chandigarh-based mobile value-added services (VAS) provider, Altruist Technologies Pvt Ltd has collaborated with Mobisoft Telesolutions Pvt Ltd that operates the website Phoneytunes.com, however, the company is in an advanced stage of development to acquire Mobisoft.
At present, Phoneytunes.com offers mobile wallpapers, ring tones, screensavers, games and logos. Mobisoft has also developed other products such as the content and portal management system called The Mobile Genie, a VAS charging gateway, an SMS router, as well as VAS content and apps for mobiles.
Following the collaboration, Phoneytunes team of 15 employees including CEO Taron Mohan, have shifted to Altruist’s Gurgaon branch.
Altruist built revenues of Rs 77 crore for the year ended March 2011, and is targeting Rs 120 crore for the next fiscal, according to Aggarwal. The firm competes with various VAS companies in the country such as One97 Communications, Affle, , IMI Mobile, ACL Wireless, Indiatimes Mobile, ValueFirst Messaging, etc.
In July Altruist acquired US-based Web and mobile technology firm RelayStrategy LLC that builds mobile applications for Android, BlackBerry and iPhone platforms. Altruist had also invested seed capital in a Mumbai-based mobile gaming start-up called Vegam, for a minority stake.