OnMobile Global Limited confirmed Tuesday that it has reached a deal to acquire the business assets and liabilities of Livewire Mobile.
Livewire Mobile is a leading provider of end-to-end managed mobile entertainment solutions for network operators and consumer device manufacturers.
What we can tell you about the acquisition is that the outcome will be a U.S.-based entity called OnMobile Live Inc, a wholly-owned subsidiary of OnMobile LLC.
OnMobile LLC will pay $17.8 Million (subject to certain contingent payments) to close the deal, which also includes the purchase of stock of Fonestarz Media Limited, UK (the managed services arm of Livewire based in UK).
OnMobile is already one of the largest B2B digital music service providers providing path-breaking 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 services to leading operators in North America.
“The acquisition of Livewire Mobile, with its reputation for providing cutting-edge music services, will help us consolidate our global leadership position in RBT and Music by firmly establishing our presence in North America for these services,” says Mouli Raman, CEO & Co-Founder of OnMobile Global Limited. “This augments our strong market presence of mobile cloud services that we currently provide to major mobile operators in North America. By successfully integrating OnMobile and Livewire’s products and by extending OnMobile’s proven Managed Services model, we believe we can create a truly compelling value proposition to Telecom operators and Consumers worldwide.”