OnMobile Global has executed a binding Share Purchase Agreement (SPA) with Synchronoss Technologies Inc., a company headquartered in New Jersey and a leading player in synchronization technology products, for OnMobile’s divestment of Voxmobili SA. The proposed deal will be subject to and contingent upon certain events, including applicable regulatory and shareholders’ approvals.
Upon the consummation of the deal, OnMobile will realize an amount of $26 million which is around Voxmobili’s book value, subject to escrows and other conditions customarily contracted as a part of such a deal.
The company had earlier on April 09, 2014, executed a non-binding Memorandum of Understanding (MOU) for the potential divestment of its group company, Voxmobili SA, which specializes in mobile telecommunication products.
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.
