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Telekom Malaysia completes 49% stake purchase in Spice Telecom
BANGALORE: Telekom Malaysia Berhad (TM) today solemnized the acquisition of the 49 per cent stake in Spice Communications Pvt. Ltd. by the exchange of ‘completion documents‘
The deputy prime minister of Malaysia, Datuk Seri Najib Tun Razak who is currently heading the trade delegation in India witnessed the exchange of documents. TM was represented by its Group CEO, Dato‘ Abdul Wahid Omar while Mcorp Global was represented by Dilip Modi, president, Mcorp Global. This formal exchange marks TM‘s entry into the lucrative Indian telecommunications market of India, which is the fastest growing telecommunications market in the world.
With the competition of this acquisition, TM is now the owner of a 49 per cent equity stake in Spice Telecom. TM secured this critical piece in its regional footprint, through its international investment holding company, TM International SDN BHD. The acquisition was of a total consideration of USD 178.85 million. The remaining 51 per cent equity remains with the existing shareholders Mcorp Global Ltd. and its associates, Mcorp.
Opined Dilip Modi, “Today, both countries are at the forefront of the revolution in Information, Communication and Entertainment (ICE) technologies and have much to offer each other. Together, they could become a powerful force to take Asian companies to an entirely new globally competitive level. I am confident our strategic partnership with TM will create a new synergy and help us in maximizing growth in one of the world‘s fastest growing markets.”
“Spice customers today join TM‘s global mobile subscriber base of over 20 million. Apart from TM‘s operational and management experience both in Malaysia and key Asian regional markets, Spice customers stand to benefit from, through the creation and innovation of new products and services, sharing of technological experience and implementation, and the leveraging of group synergies such as in global procurement,” Modi further added.
Dato Abdul Wahid Omar described organic growth as the key approach for creating shareholder value in Spice, “TM and its partner, Mcorp will seek to grow Spice to be a market leader in the geographies it operates in.”
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Canva acquires animation and AI startups Cavalry and MangoAI
The deals strengthen Canva’s push into enterprise and AI-led design workflows
AUSTRALIA: Global visual communication platform Canva has stepped up its acquisition drive, buying UK-based 2D animation platform Cavalry and US-based AI startup MangoAI to deepen its AI-powered creative stack.
Cavalry, whose tools are used by brands including Amazon, Meta, Google and Netflix, will strengthen Canva’s motion design capabilities. The deal builds on Canva’s 2024 acquisition of Affinity, which has crossed four million downloads since launch. With Cavalry, Canva now counts seven Europe-based acquisitions, underscoring its global expansion strategy.
MangoAI, an early-stage startup focused on video advertising optimisation, will integrate its reinforcement learning systems into Canva AI. The move aims to enable brands to generate personalised marketing content in real time, cutting production cycles while improving campaign performance. MangoAI co-founder Vinith Misra will join Canva as reinforcement learning lead in its research lab.
Canva co-founder and chief operating officer Cliff Obrecht said the acquisitions reflect the company’s ambition to make professional-grade creative tools more accessible without sidelining human creativity. The goal, he said, is to bring everything from vector to motion design into a single, integrated suite.
The company now reports 265 million active users, including 31 million paid subscribers, and $4 billion in annualised revenue, up 36 per cent year on year. The latest buys further position Canva against rivals such as Adobe and Apple’s Creator Studio as it pushes deeper into enterprise workflows.
Canva head of pro design marketing Liam Fisher, said AI is intended to act as a creative assistant rather than a replacement, reinforcing the primacy of craft and individual design judgement.
