OnMobile Global Enters Into Definitive Agreement to Acquire Livewire Mobile
Expands Its Presence in North America With RBT and Music Product
BANGALORE, INDIA -- (Marketwired) -- 06/04/13 -- OnMobile Global
Limited, a global leader in telecom value-added services (VAS),
announced today that it has entered into a definitive agreement to
acquire the business assets and liabilities of Livewire Mobile, a
leading provider of end-to-end managed mobile entertainment solutions
for network operators and consumer device manufacturers. The
resultant new U.S.-based entity will be called OnMobile Live Inc, a
100% subsidiary of OnMobile LLC, US.
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.
OnMobile LLC, US will pay $17.8 Million as the consideration for
purchase of LiveWire's business assets and certain liabilities,
subject to certain contingent payments. The purchase will also
include 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.
Mouli Raman, CEO & Co-Founder, OnMobile Global Limited, 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. 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
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. 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."
About Livewire Mobile
Livewire Mobile, Inc. (PINKSHEETS: 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.
OnMobile (NSE: 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 1800 employees
worldwide, OnMobile has offices around the globe, including London,
Paris, Madrid, Silicon Valley, Miami and Seattle.
Marketing and Communication Manager
+33 156 53 64 34
Account Manager, eclat Marketing
+ 44 1276 486 000
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