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OnMobile Global spurts after signing definitive agreement

Capital Market 

Global jumped 10.28% to Rs 35.40 at 12:33 IST on BSE after the company announced it has signed a definitive agreement to acquire

The announcement was made after market hours yesterday, 11 October 2018.

Meanwhile, the was up 667.26 points or 1.96% at 34,668.41.

On BSE, so far 53,000 shares were traded in the counter as against average daily volume of 23,000 shares in the past two weeks. The stock hit a high of Rs 37.70 and a low of Rs 33.15 so far during the day.

Global announced it has signed a definitive agreement to acquire This acquisition reflects the increasing importance of OnMobile's strategy to become a in the fast-growing mobile games market and expands its games footprint to all continents.

is a pioneer in cloud-based mobile distribution and monetization company headquartered in Gothenburg, Appland provides premium games and kids apps as a white-labeled subscription service to more than 80 carriers in over 40 countries.

Global, headquartered in and with offices across the globe, delivers over 575 million music plays daily to mobile customers worldwide.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 12 2018. 12:37 IST