You may have heard the news by now, yes One97 Communications (www.one97world.com) has made a strategic investment in tenCube, a Singapore based mobile security application firm. tenCube is home to WaveSecure, (www.WaveSecure.com) the award winning and much acclaimed mobile security software.  The deal is nowhere close to Rs 100 crores as being quoted in some sections of media. That is not a substantiated figure. The deal is much smaller and is part of One97′s strategy to invest in companies that have a strong presence in mobile ecosystem innovation. tenCube is a young entrepreneurial company much like One97 and the fit in business objectives is exciting.

How does it work?

This deal gives us an entry into the rapidly growing mobile application market. These are key area of interest for mobile operators and handset manufacturers. The investment will give One97 priority reseller rights for WaveSecure in multiple geographies including India.  WaveSecure as a popular Smartphone service, is also an excellent entry strategy for One97’s portfolio of products for developed markets like Europe and North America.  The strategic investment will enhance One97’s capability in the design, development and go-to-market in the mobile applications space.

One97 and Telecom World

One97 Communications has previously invested in mobile advertising start up Oorja Mobile Services Pvt Ltd as well as incubated PayTM and oc2ps, a mobile commerce initiative and social networking platform respectively. One97 works with telecom operators offering Value Added Services – music download, application discovery, self-care, customer communication, content provisioning, subscriptions alerts and ring back tones. These services are available across all Indian telecom operators and are used by over 300 million telecom consumers. One97 was named the Emerging Company of the year by Voice and Data and was rated a Top 10 Fastest Growing Indian company in Deloitte Fast 500. The company’s has sustained growth at 428 percent CAGR.

WaveSecure

WaveSecure offers users complete protection for their mobile device, data and privacy. It enables users to remotely lock, track and locate lost phones, get a copy of their data securely backed up, and remotely wipe data off the phone to protect privacy. WaveSecure is a popular service that has been adopted by users in more than 130 countries, and has received numerous recognitions, most notably being a Top 3 winner at Google’s recent Android Developer Challenge.

WaveSecure is the world’s leading mobile device and data security product that protects users in more than 130 countries. WaveSecure has been recognized as a Top 10 Wireless Innovation by Frost & Sullivan, an overall winner at Mobile Monday Peer Awards, and a Top 3 Winner at Google’s Android Developer Challenge. WaveSecure has been featured on numerous popular media including TechCrunch, CNet, LifeHacker, CNBC, and was recently named “2009’s Most Awesome Android Apps” by CIO and “App of the week” by New York Times. WaveSecure is available on all Smartphone platforms including Symbian S60, Windows Phone, BlackBerry and Android.

tenCube

Headquartered in Singapore, tenCube is a pioneer in Smartphone security technology since 2005. Originally designed for military and police use, tenCube launched WaveSecure for consumers in 2007 and has received numerous recognition, including being selected as a Red Herring Asia 100 company. tenCube’s current investors include NUS Enterprise and the Singapore Government’s SEEDS investment fund. tenCube’s customers includes Nokia, Sony Ericsson, Telenor and SingTel.