 "Onmobile sells French arm for around Rs 156 cr")
The city-based company had acquired Voxmobili, a software solutions provider, for an undisclosed amount in 2007, with an intension to strengthen its VAS data products offerings. The acquisition had added a number of international customers to OnMobile's customer portfolio such as Orange, Cingular-AT&T, France Telecom, T-Mobile, Wanadoo and Turkcell. The buy was also aimed at augmenting OnMobile's current domain and technology competence due to the depth and breadth of Voxmobili's IP and cutting-edge proven data products.
"With the closure of this deal, OnMobile realises approximately $26 million subject to escrows and other conditions customarily contracted as part of such deals," Onmobile said in a statement. "The sale of Voxmobili is directly in line with OnMobile's strategy of focusing on its core products."
In 2007, Voxmobili had around 45 employees with operations in Europe, North America, West Asia, Australia, and Eastern Europe. Voxmobili's core products centred around synchronised address book and advanced phone backup, wherein cell phone users can back up all their personal data including calendar and contacts onto a secure network-based server, and mobile paparazzi, wherein cellphone users can publish information, photographs and videos directly from their phones to website and mobile sites. It had over 21 platforms deployed worldwide, and has issued over 20 million licences for their products globally.