OnMobile had signed the Share Purchase Agreement with Synchronoss Technologies in May 2014, the Bangalore headquartered company said in a release.
Mobile value added services firm OnMobile Global today announced the divestiture of its French subsidiary Voxmobili S.A to Synchronoss Technologies Inc for approximately USD 26 million.
Synchronoss Technologies Inc is a mobile cloud solutions firm headquartered in New Jersey.
OnMobile had signed the Share Purchase Agreement with Synchronoss Technologies in May 2014, the Bangalore headquartered company said in a release.
With the closure of this deal, OnMobile realises approximately USD 26 million subject to escrows and other conditions customarily contracted as part of such deals, it added.
OnMobile said the sale of Voxmobili is directly in line with OnMobile's strategy of focusing on its core products.
OnMobile Global stock price
On July 15, 2014, OnMobile Global closed at Rs 34.30, up Rs 1.45, or 4.41 percent. The 52-week high of the share was Rs 39.60 and the 52-week low was Rs 19.05.
The latest book value of the company is Rs 69.95 per share. At current value, the price-to-book value of the company was 0.49.
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