OnMobile to buy Livewire Mobile for $17.8 million - Times of India

The author has posted comments on this articleShilpa Phadnis, TNN | Jun 4, 2013, 10.11PM IST BANGALORE: Bangalore-based value-added services (VAS) company OnMobile has entered into a definitive agreement to acquire the business assets and liabilities of US-based mobile entertainment solutions company Livewire Mobile for $17.8 million. The new US-based entity will be called OnMobile Live Inc, a wholly-owned subsidiary of the company. OnMobile will pay $17.8 million for purchase of LiveWire's business assets and certain liabilities, subject to certain contingent payments. The purchase will also include purchase of stock of Fonestarz Media, the managed services arm of Livewire based in the UK. OnMobile offers an array of products in mobile entertainment, search and discovery and mobile cloud services. Boston-headquartered Livewire Mobile, established in 1983, provides an integrated suite of solutions including full track music, ringback tones, ringtones and infotainment services. Livewire Mobile currently powers ringback tone and mobile music solutions for Sprint, MetroPCS, and Public Mobile amongst others. OnMobile is already one of the largest B2B digital music service provider providing music services for top telecom operators in Asia, Latin America, Africa and Europe. With the acquisition of Livewire Mobile, OnMobile will now expand its music and ringback tone (RBT) services to leading operators in North America. Mouli Raman, CEO & co-founder of OnMobile Global said, "The acquisition of Livewire Mobile will help us consolidate our global leadership position in RBT and music by firmly establishing our presence in North America for these services. This augments our strong market presence of mobile cloud services that we currently provide to major mobile operators in North America." Matthew Stecker, president and CEO of Livewire Mobile said, "We're thrilled to bring the power of OnMobile's scale and infrastructure to boost our existing and planned carrier deployments and services. Upon evaluation of several strategic alternatives made possible by our recent revenue growth, our board concluded that this transaction was the best path to maximizing value for our shareholders and for our customers." via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFeRgwmsMwOMDOIjasY9MooS98Vjw&url=http://timesofindia.indiatimes.com/business/india-business/OnMobile-to-buy-Livewire-Mobile-for-17-8-million/articleshow/20431532.cms

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