OnMobile announces sale of Voxmobili S.A.
Bangalore, 15 July, 2014: OnMobile Global Limited, a global leader in mobile services, today announced the divestiture of its French subsidiary Voxmobili S.A to Synchronoss Technologies Inc. OnMobile had signed the Share Purchase Agreement with Synchronoss Technologies in May 2014.
With the closure of this deal, OnMobile realises approximately USD 26 million subject to escrows and other conditions customarily contracted as part of such deals. The sale of Voxmobili is directly in line with OnMobile’s strategy of focusing on its core products.
Synchronoss Technologies Inc., is a leader in mobile cloud solutions and is headquartered in New Jersey.
OnMobile [NSE India: ONMOBILE], headquartered in Bangalore, India, and with offices in all regions of the world, delivers millions of music plays daily to mobile customers worldwide. Based on current deployments, OnMobile has the potential to reach more than 1.1 billion mobile users across several geographies. For further information, please visit www.onmobile.com