Onmobile Usa LLC completed the acquisition of business assets and certain liabilities of LiveWire Mobile, Inc..
July 22, 2013 at 12:00 am EDT
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Onmobile Usa Llc signed a definitive agreement to acquire business assets and certain liabilities of LiveWire Mobile, Inc. (OTCPK:LVWR) for $17.8 million on June 2, 2013. The consideration is subject to certain certain escrow and performance contingencies. The purchase will also include purchase of stock of Fonestarz Media Limited, the managed services arm of Livewire based in UK. As a result of the acquisition a new entity will be formed OnMobile Live Inc, a 100% subsidiary of Onmobile Usa Llc. Roger Griesmeyer, Jon Levine, Andy Feiner and Taryn Singer of Andrews Kurth, LLP acted as legal advisors for LiveWire Mobile. The transaction is targeted to close on June 30, 2013 upon satisfaction of various customary closing conditions. Bowen Advisors, Inc. acted as financial advisor to Live Microsystems.
Onmobile Usa LLC completed the acquisition of business assets and certain liabilities of LiveWire Mobile, Inc. (OTCPK:LVWR) on July 22, 2013.
Live Microsystems, Inc. is a provider of digital entertainment solutions for network operators, consumer device manufacturers, brands and media companies operating in the mobile market. The Companyâs range of content services include applications, video, games, ringback tones, ringtones, digital rights management (DRM)-free full-track music, e-books and more, as well as application and portal development, mobile advertising solutions, integrated content publishing and merchandising and managed value added services (VAS) operations. The Company sells its platforms as a bundled product and service offering, including installation, maintenance and support, professional services, and training. The Company derives its revenue from two sources: services, including managed services, maintenance and support services, professional services, and sales of products, including hardware and software licenses.