<http://www.dealcurry.com/2010105-OnMobile-Global-Acquires-Dilithium-Networks-3G-Video-Technology.htm>
Value added services firm, *OnMobile Global* *Limited* has acquired the rights to video technology and mobile solutions for 3G services developed by US-based Dilithium Networks Inc. The acquisition will give OnMobile much needed video capability, given the future launch of 3G services in India. The acquisition also provides OnMobile with Dilithium's extensive patent portfolio - over 175 patents in the world's most advanced video technologies. Dilithium's technology enables the delivery of novel 3G VAS by offering superior quality and scale to the creation, adaptation and distribution of all types of multimedia assets. Transaction Note Started in 2001, US-headquartered Dilithium Networks, which is funded by venture capital funds and corporate investors that include Motorola Ventures and Deutsche Bank, is a technology infrastructure company for delivering video on optimized for mobiles. Its mobile video solutions enable delivery of multimedia services over mobile and broadband networks to devices such as mobile phones, smart phones and set-top boxes. In India, it had shut down its R&D and sales center in Noida and has laid off at least 75 workers there. Apart from India, Dilithium had offices in Singapore and UK and sales offices in China, France, Italy, Portugal and Dubai. Dilithium has been undergoing restructuring due to delayed payments and cashflow issues. It ran into trouble when there were delays in deploying its video technology in wireless networks overseas. According to PressDemocrat.com, Dilithium was seeking a new business model, and is selling assets and closing global offices. Its clients list BSNL, Yahoo, China Mobile, Chungwa Telecom (Taiwan), D2see (UK), Echovox Group (France), Vodafone (6 operations), VTM (Belgium), HTC, TechFaith, Spreadtrum, Datang and Qualcomm. OnMobile has global deals with Vodafone and Telefonica, and Dilithium’s video technology would be a good fit for the company that has otherwise mostly been about CRBT. This would be the second technology acquisition for OnMobile. Its first in technology was the voice recognition software company *TelismaSA* of France in 2008 for Rs.84.4 Cr. In the past, OnMobile’s had also acquired *VoxMobili*, a French data products company, for Rs.140 Cr in 2007 and *ITFinity*, another mobile data company On a consolidated basis, OnMobile Global reported 15.4% increase in total revenues to Rs.123 Cr for Q1 FY 2011, compared to Rs.102 Cr during Q1 last year. It reported 105.8% increase in consolidated net profit at Rs.17.84 Cr for Q1 FY 2011, compared with Rs. 8.67 Cr during the corresponding quarter last year. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
