Ringback Tones Provider Buys Mobile Music Services Firm
LiveWire Mobile, a subsidiary of NMS Communications has brought privately owned Groove Mobile, a provider of mobile music solutions for $14.5 million. LiveWire Mobile say that the acquisition will enable the two companies to meet operators' growing demand for a portfolio of managed services, including ringback tones, ringtones, full-track music and video downloads, delivered through an integrated storefront.
"This acquisition represents a major milestone in solidifying LiveWire Mobile's early leadership position in the large and rapidly growing market for mobile personalization services. LiveWire Mobile now delivers the industry's most complete suite of personalization services, spanning the traditional service silos that exist today," said Joel Hughes, president, LiveWire Mobile.
LiveWire Mobile, a provider of ringback products and managed services, has now tripled its market opportunity as a result of adding ringtones and full-track music and video download services to its mobile personalization suite. The acquisition also provides LiveWire Mobile with the ability to manage all music and video related content from an integrated storefront to provide operators with a single managed service and subscribers with a superior music experience.
Groove Mobile has 12 global mobile operator customers including Sprint, 3 UK and Bell Mobility.
"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," said Bob Schechter, chairman and CEO of NMS Communications Corporation.
Posted to the site on 18th March 2008
