Enters US…
OnMobile Global has announced the acquisition of Livewire Mobile,
which is a US based company providing end-to-end managed mobile
entertainment solutions for network operators and consumer device
manufacturers. The resultant entity would be a wholly-owned subsidiary
of OnMobile – OnMobile Live Inc. OnMobile would pay $17.8 million for
the deal. The purchase will also include purchase of stock of Fonestarz
Media Ltd, the managed services arm of Livewire in the UK.
Liverwire provides an integrated suite of solutions including full track
music, ringback tones, ringtones and infotainment services. With this
acquisition, OnMobile would get an entry into the US markets to
strengthen its current presence in Latin America, Europe and Asia.
OnMobile had a net cash of | 151.8 crore on its books at the end of FY13,
which we believe would be used for funding this acquisition. We maintain
BUY on OnMobile with a target price of | 45
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OnMobile Global has announced the acquisition of Livewire Mobile,
which is a US based company providing end-to-end managed mobile
entertainment solutions for network operators and consumer device
manufacturers. The resultant entity would be a wholly-owned subsidiary
of OnMobile – OnMobile Live Inc. OnMobile would pay $17.8 million for
the deal. The purchase will also include purchase of stock of Fonestarz
Media Ltd, the managed services arm of Livewire in the UK.
Liverwire provides an integrated suite of solutions including full track
music, ringback tones, ringtones and infotainment services. With this
acquisition, OnMobile would get an entry into the US markets to
strengthen its current presence in Latin America, Europe and Asia.
OnMobile had a net cash of | 151.8 crore on its books at the end of FY13,
which we believe would be used for funding this acquisition. We maintain
BUY on OnMobile with a target price of | 45
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