Value added services provider OnMobile Global completed its acquisition of US-based Livewire Mobile for YSD 17.8 million. The move comes in an attempt to increase its mobile entertainment portfolio in North America.
Mobile value added services (VAS) firm OnMobile Global on Monday said that it has closed the deal to acquire US-based Livewire Mobile for USD 17.8 million, a move aimed to increase its mobile entertainment portfolio in North America.
The deal (worth about Rs 106 crore) will help OnMobile gain a stronger foothold in the North American market, which is considered a high music consuming market with high average revenue per unit (ARPU).
Livewire Mobile's portfolio of mobile music, RBT and gaming solutions and its marquee client base including Sprint, metroPCS, US Cellular and Cricket, will combine OnMobile's American customer base including AT&T, T-Mobile and Rogers to establish a footprint at six of the top 10 mobile operators in North America, OnMobile said in a release.
The new combined entity presents a single source solution for integrated Value Added Services (VAS) that will cater to high value subscriber segments, including youth and upwardly mobile professionals, it added.
The deal also includes purchasing stock of Fonestarz Media Limited, UK -- the managed services arm of Livewire based in UK, it had said.
OnMobile Global stock price
On November 21, 2014, OnMobile Global closed at Rs 59.30, down Rs 0.95, or 1.58 percent. The 52-week high of the share was Rs 64.70 and the 52-week low was Rs 23.95.
The latest book value of the company is Rs 68.18 per share. At current value, the price-to-book value of the company was 0.87.
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