India's OnMobile Buys Voxmobili
OnMobile is taking a 100 percent stake in the Paris-based company, which provides personal mobile data management software, for an undisclosed sum. It’s also planning a $150 million IPO, the proceeds of which will partly be used to finance future acquisitions.
An early entrant into India’s mobile value-added services space, OnMobile was incubated at IT services giant Infosys Technologies Ltd. (Nasdaq: INFY) in 2000 and launched its first products in 2002. Initially offering voice-based apps such as IVR (interactive voice response), contests, and ringtones, the company has since expanded into data services.
Voxmobili will advance the company’s moves in that direction. Its services include synchronized address book and phone backup applications that allow users to transfer their data onto a secure network-based server, and a multimedia app that transfers photos and video from the phone to Websites and mobile sites.
The acquisition will give OnMobile a springboard into Europe and North America, where Voxmobili's customers include big names like Salt SA , T-Mobile International AG , Vodafone Group plc (NYSE: VOD), and AT&T Inc. (NYSE: T). Voxmobili also has operations in the Middle East, Australia, and Eastern Europe.
Voxmobili is OnMobile's second purchase -- it picked up ITFinity Solutions Pvt. Ltd. in December last year after it raised $27.8 million in third-round funding in October from Deutsche Bank AG , Goldman Sachs & Co. , and Polygon Investment Partners. (See OnMobile Secures $27.8M .)
— Nicole Willing, Reporter, Light Reading