Livewire Mobile, Inc. to Be Acquired by OnMobile Global Limited

  Livewire Mobile, Inc. to Be Acquired by OnMobile Global Limited

Business Wire

LITTLETON, Mass. & CAMBRIDGE, United Kingdom -- June 4, 2013

Livewire Mobile, Inc. (OTC Markets: LVWR), a leader in providing end-to-end
managed mobile entertainment solutions for network operators and consumer
device manufacturers, announced today that it has entered into a definitive
agreement for substantially all its business assets and certain liabilities to
be acquired by OnMobile Global Limited, a global leader in telecom value-added
services.

Under the terms of the agreement, Livewire Mobile will receive $17.8M USD for
its existing business assets subject to certain escrow and performance
contingencies. It is the Company's expectation that the holders of senior
secured convertible notes will convert a majority of their notes and vote the
converted shares in favor of this transaction, which could amount to
approximately 80% of the then fully-diluted outstanding shares.

"We’re incredibly excited to become part of OnMobile to create the world’s
leading carrier VAS company,” said Matthew Stecker, President and CEO of
Livewire Mobile. “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."

"OnMobile is a well-respected leader in delivering value-added services to
mobile operators around the world with a very complementary suite of mobile
services and geographical footprint to ours. Our customers will be well-served
not only by the one-stop access to additional mobile entertainment services,
but also by OnMobile’s dedication to quality and innovation and their
substantial development resources,” said Mr. Stecker.

“We have great respect for the strong long-standing relationships that
Livewire Mobile has built with its customers as well as its expertise in
delivering innovative mobile music services,” said Mouli Raman, CEO of
OnMobile Global Limited. “We fully appreciate the value that Livewire Mobile
provides and look forward to working together with Livewire’s employees,
partners, and customers as we continue to invest towards positively impacting
people’s lives using mobile technology.”

The transaction is targeted to close on June 30 upon satisfaction of various
customary closing conditions.

The resultant new U.S.-based entity, OnMobile Live, LLC., will incorporate all
of the services provided by Livewire Mobile, including its wholly-owned U.K.
subsidiary, FoneStarz, and plans to retain and grow substantially all of
Livewire’s existing offices, personnel, platforms and products worldwide.

About Livewire Mobile

Livewire Mobile, Inc. (OTC Markets: LVWR) is a Mobile Internet powerhouse with
one of the most comprehensive one-stop digital entertainment solutions for
network operators, consumer device manufacturers, brands and media companies
entering the mobile market. The company’s integrated suite of content services
includes applications, video, games, ringback tones, ringtones, full-track
music, e-books and more as well as application and portal development, mobile
advertising solutions, integrated content publishing and merchandising, and
turnkey managed VAS operations. For more information, please visit
www.livewiremobile.com.

Livewire Mobile is a registered service mark. Other trademarks are properties
of their respective owners.

About OnMobile

OnMobile [NSE India: ONMOBILE], headquartered in Bangalore, India, with
services in 59 countries, is the leading Value Added Services [VAS] company
for Mobile, Landline and Media Service Providers. OnMobile offers an
innovative array of products in Mobile Entertainment, Search and Discovery,
Data Services and Mobile Social Networking and is a leader in the VAS Managed
Services industry. The products span a range of channels including SMS, Voice,
Video, WAP, Web, USSD and On-Device Portals, enabling OnMobile’s 92 telecom
and media customers to generate high revenues. With over 1600 employees
worldwide, OnMobile has offices around the globe, including London, Paris,
Madrid, Silicon Valley, Miami and Seattle.

Forward Looking Statements

Statements other than historical facts included or referred to in this Press
Release are “forward-looking statements” including forward-looking statements
about the expected closing date of the transaction, the conversion of senior
secured convertible notes and favorable vote by holders of these notes, and
OnMobile plans to retain and grow substantially all of Livewire’s existing
offices, personnel, platforms and products worldwide. These statements are
based on management’s expectations as of the date of this document and are
subject to uncertainties and changes in circumstances. Actual results may
differ materially from these expectations due to risks and uncertainties
including, but not limited to, uncertainties with respect to the anticipated
closing date of the transaction, conversion of senior secured convertible
notes and favorable vote by holders of these notes, and OnMobile plans to
retain and grow substantially all of Livewire’s existing offices, personnel,
platforms and products worldwide. In addition, while management may elect to
update forward-looking statements at some point in the future, management
specifically disclaims any obligation to do so, even if its estimates change.
Any reference to our website in this press release is not intended to
incorporate the contents thereof into this press release or any other public
announcement.

Contact:

Livewire Mobile
Media Relations:
North America:
Erin Schweppe, VP Marketing
t: +1-978-742-3155
erin.schweppe@livewiremobile.com
or
EMEA:
Dave Moreau, COO
m: +44 7887 645 835
dave.moreau@livewiremobile.com
twitter: @DaveMoreau
or
Investor Relations:
investorrelations@livewiremobile.com
 
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