Way2Online Interactive India Private Limited, which has a Person to Person (P2P) messaging portal Way2Sms.com, has acquired 160by2.com, another P2P messaging portal based out of Hyderabad with 13 million registered users. The deal was an all-cash deal but the value was not disclosed.
Post-acquisition, 160by2 will continue to grow as an independent unit under the leadership of Way2Online. There is only 20 per cent of 160by2′s user base overlapping with Way2Sms. Way2Sms has 23 million registered users and with the acquisition the company targets a turnover of Rs 60 crore during 2012-13.