MoMagic waves funding wand to attract Foxconn

Dec 1, 2015 • Thierry Heles

Foxconn subsidiary FIH Mobile has invested in MoMagic as part of a quest to increase the firm's market share in India.

FIH Mobile, a subsidiary of contract manufacturer has paid an undisclosed sum for a 10% stake in India-based app customer acquisition platform developer MoMagic Technologies, E27 reported yesterday.

Founded in 2011, MoMagic has built a customer acquisition and analytics platform aimed at businesses developing apps and creating content. MoMagic currently operates across five markets in Southeast Asia and hopes to use the money to support an expansion into additional countries.

FIH manufactures products for mobile phone and wireless communications technology…

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