The Rs 1,500 crore VAS market in India has a new twist. Mobile2Win (M2W) has merged with voice and web-based value-added services (VAS) provider Altruist Group. Apparently the merger makes the entity India’s fourth-largest VAS player in terms of revenues.

mobile2win-logo1The Chandigarh-based Altruist Group is known by its social network JobsOnPhone which even acts a phone-based recruitment service.

The mobile marketing expertise of M2W will be in best use which gets its funding from Norwest Venture Partners (NVP), Nexus India, Softbank China and Silicon Valley Bank.
Altruist Co-founders Dheeraj and Anuj Aggarwal will enjoy a stake in M2W and vise versa. Plus M2W MD and CEO Rajat Jain will be joining the Altruist board.

The only competition the merger would face is from OnMobile and Spice Group’s Cellebrum. The spark of consolidations in the VAS sector is fairly visible through this merger. The merged entity aims at closing the year with Rs. 350 crores.