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20 Mar 08
Country: USA
Topics: Music and audio
Source:
Online Services/Intelligence/Mobile/Updates
Livewire Mobile, an NMS Communications company providing music personalisation services, has acquired Groove Mobile for $14.5m. This acquisition will enable Livewire to add full-track music and music videos to its existing ringback tone and ringtone service. Content will be provided through an integrated storefront. Our take...
At the time of acquisition, Groove Mobile had 12 global mobile operator customers including Sprint, 3UK and Bell Mobility, as well as relationships with all four major record labels. Company revenues for 2007 were $7.4m and in September 2007 the company announced that there had been 35m transactions through its service since the company launch in 2004. As a result of the acquisition, Livewire has considerably increased its addressable market, and now provides services to 42 international operators with 15m active subscribers.
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