OnMobile divests speech tech assets
January 8, 2016, Mumbai, DHNS 23:14 IST
OnMobile, a wholly-owned subsidiary of OnMobile Global, has entered into an agreement with Voicebox Technologies France for the divestment of certain speech technology assets for a consideration of €6,50,000.
The deal is subject to adjustments, escrows and other conditions and also contingent upon certain approvals and events, Onmobile said.
“This divestiture is in line with the company’s plan to concentrate its energy and resources on strategic initiatives. The speech recognition technology that OnMobile acquired through Telisma in 2008, has served its business needs well, but is no longer imperative for OnMobile’s new offerings, which are focused on smartphone apps,” OnMobile Managing Director Florent Stroppa said.