T-Mobile-owner Deutsche Telekom – Europe’s largest telecoms firm – has bought a 17 percent stake in Indian mobile TV start-up Devas Multimedia for US$75 million, reports India’s Economic Times. According to the report, the Bangalore-based company is a niche satellite-based multimedia services company with plans to deliver content via a hybrid satellite-terrestrial network to mobile devices. Deutsche Telekom’s investment – made via its T-Ventures venture capital arm – is believed to be its first in the Indian telecoms sector. The deal values the firm at around US$443 million; it is also backed by US-based venture capital funds Columbia Capital and Telecom Ventures, which acquired a joint 49 percent stake in the company in 2006. Deutsche Telekom also reportedly has an option to extend its stake in the company to 26 percent.

According to the Economic Times, Devas is currently working with the Indian Space Research Organisation (ISRO) on providing videos and TV channels to mobile phones using the Digital Multimedia Broadcasting (DMB) standard. The service is scheduled to launch in either 2009 to 2010 to coincide with ISRO’s launch of a new satellite, the GSAT-6.