OnMobile Global announces divesting of French subsidiary

Mobile value added services firm OnMobile Global today announced the divestiture of its French subsidiary Voxmobili S.A to Synchronoss Technologies Inc for approximately USD 26 million.

Synchronoss Technologies Inc is a mobile cloud solutions firm headquartered in New Jersey.

OnMobile had signed the Share Purchase Agreement with Synchronoss Technologies in May 2014, the Bangalore headquartered company said in a release.

With the closure of this deal, OnMobile realises approximately USD 26 million subject to escrows and other conditions customarily contracted as part of such deals, it added.

OnMobile said the sale of Voxmobili is directly in line with OnMobile's strategy of focusing on its core products.