The announcement was made during trading hours today, 4 June 2013.
Meanwhile, the S&P BSE Sensex was up 66.76 points or 0.34% at 19,677.24.
On BSE, 91,000 shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past one quarter.
The stock hit a high of Rs 36.35 and a low of Rs 34.40 so far during the day. The stock had hit a 52-week high of Rs 50.40 on 2 January 2013. The stock had hit a record low of Rs 28.75 on 2 July 2012.
The stock underperformed the market over the past one month till 3 June 2013, sliding 10.71% compared with the Sensex's 0.18% rise. The scrip had also underperformed the market in past one quarter, rising 2.06% as against Sensex's 3.66% gain.
The small-cap company has equity capital of Rs 114.16 crore. Face value per share is Rs 10.
OnMobile Global said that post acquisition of Livewire Mobile, the resultant new US-based entity will be called OnMobile Live Inc, a 100% subsidiary of OnMobile LLC, US. Boston-headquartered Livewire Mobile, established in 1983 is a leading provider of end-to-end managed mobile entertainment solutions for network operators and consumer device manufacturers. The company provides an integrated suite of solutions including full track music, ringback tones, ringtones and infotainment services.
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, UK, the managed services arm of Livewire based in UK, OnMobile Global said in a statement.
OnMobile Global said it is already one of the largest B2B digital music provider 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, the company added.
Mouli Raman, CEO & Co-Founder, OnMobile Global 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 worldwide".
OnMobile Global's consolidated net profit surged 125.5% to Rs 10.80 crore on 3.7% growth in net sales to Rs 184.10 crore in Q4 March 2013 over Q4 March 2012.
OnMobile Global, headquarted in Bangalore with services in 59 countries, is the leading value added services (VAS) company for mobile, landline and media service providers.
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