MUMBAI: Leading telecom VAS (Value Added Services) provider OnMobile Global has entered into a definitive agreement to acquire the business assets and liabilities of Livewire Mobile, a provider of end-to-end managed mobile entertainment solutions for network operators and consumer device manufacturers, for $17.8 million.
OnMobile Global Limited CEO & co-founder Mouli Raman said, “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.”
The resultant new US-based entity will be called OnMobile Live Inc, a 100 per cent subsidiary of OnMobile LLC, US.
Under the agreement, OnMobile will acquire the business assets and liabilities of Livewire Mobile. It also includes purchase of stock of Fonestarz Media Limited, UK – the managed services arm of Livewire based in UK.
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, a company release said.
With the acquisition of Livewire Mobile, OnMobile will now expand its music and ringback tone services to leading operators in North America. The B2B digital music service provider is providing services for telecom operators in Asia, Latin America, Africa and Europe.
Livewire Mobile president and CEO Matthew Stecker said, “We’re incredibly excited about coming together with OnMobile to create the world’s leading mobile VAS Company. 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.”