Foxconn unit picks up 10% stake in MoMagic

Company from Taiwan ,Foxconn International Holdings (FIH) Mobile has picked up 10% stake in MoMagic Technologies for an undisclosed amount
in a bid to strengthen its foothold in India.
Delhi-based MoMagic is a mobile Internet company, and it is backed by Mediatek.
The company offers analytic s-driven marketing solutions to enterprises, startups and e-commerce players.
The investment in MoMagic is being made through FIH’ s subsidiary, Wonderful Stars.
According to MoMagic Technologies the move is going to help it in reaching its vision and expansion.