News
LiveWire buys Groove Mobile for $14.5m
Stuart O'Brien Mar 18 2008, 12:03pm
Ringback specialist acquires full-track mobile music platform provider in unexpected swoop.
Under terms of the acquisition agreement, LiveWire Mobile acquired all the outstanding shares of Groove Mobile, which powers mobile music services for 12 operators including Sprint, 3 UK and Bell Mobility.
NMS-owmed LiveWIre says the deal means its personalisation products and services are now deployed across 42 operators globally, with 15 million active subscribers.
LiveWire says it will hire most of the Groove Mobile employees and the two companies will consolidate office locations.
Bob Schechter, chairman and CEO of NMS Communications, said: "With the acquisition of Groove Mobile, LiveWire Mobile gains significant new customers, enhances its value proposition to operators and improves its financial profile by adding a rapidly growing base of managed services revenue and accelerating its expected time to non-GAAP profitability into the fourth quarter of this year."
