OnMobile to acquire Livewire Mobile for $17.8 mn

OnMobile is all set to acquire Livewire Mobile, a US based mobile entertainment firm, for $17.8 Million. Both the companies have signed an agreement in this regard. As per the agreement, the Indian mobile applications company will acquire the business assets and liabilities of Livewire Mobile.The purchase will also include purchase of stock of Fonestarz Media Limited, UK - the managed services arm of Livewire based in UK.

Post acquisition, the new entity will be called OnMobile Live Inc and it would be a 100% subsidiary of OnMobile LLC, US.

Mouli Raman, CEO & Co-Founder, OnMobile Global 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. 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 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,"

OnMobile is already one of the largest B2B digital music service provider 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.