OnMobile Global has executed a non-binding Memorandum of Understanding (MOU) for the potential divestment of its group company, Voxmobili SA, which specializes in mobile telecommunication products. The proposed deal will be subject to and contingent upon certain events, including applicable regulatory and shareholders’ approvals.
If the proposed deal were to consummate, the company could realize an amount ranging between $23 million to $26 million for the divestment of the said company, which is around its book value, subject to escrows and other conditions customarily contracted as a part of such a deal.
Onmobile Global offers contest management, content aggregation and distribution, voice short codes, missed call alerts, multimedia push services, mobile advertising, mobile search, ringtones, ring back tones, personalized music greetings, mobile media portals, phone backup, voice portals, and voice SMS.
