OnMobile acquires US-based Livewire Mobile for $17.8 mn
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.
July 22, 2013 / 19:12 IST
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).Also read: Trai tightens norms for activation of mobile VASLivewire 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.
Last month, the Bangalore-based firm had announced that its wholly-owned subsidiary in the US, OnMobile LLC, "will pay USD 17.8 million as the consideration for purchase of LiveWire's business assets and certain liabilities, subject to certain contingent payments".The deal also includes purchasing stock of Fonestarz Media Limited, UK -- the managed services arm of Livewire based in UK, it had said.
OnMobile provides services in mobile entertainment, search and discovery and mobile cloud services. Boston-headquartered Livewire provides solutions on full track music, ringback tone (RBT), ringtones, infotainment services among others. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
