Update: So OnMobile issued a press release to the BSE just an hour or so after refusing to confirm the development to us. They're holding a con-call tomorrow on this acquisition, and we'll try and get details from that. According to the press release, OnMobile has acquired 3G video technology and mobile solutions developed over eight years by Dilithium, and the acquisition includes technology covering over 175 patents. The feedback from industry execs is that Dilithium is an excellent technology acquisition for OnMobile, but time for closing 3G service deals with telecom operators appears to be running out. OnMobile intends to offer video calls, video RBT, multi-screen video streaming on demand, IVVR, video optimization. And like we mentioned below, they intend to change business model. Dilithium’s CTO and co-founder, Marwan Jabri will head OnMobile’s new Video Business Unit, reporting into Sanjay Uppal, President and COO. Earlier today: MediaNama has learnt from multiple industry sources that OnMobile Global, India's largest value added services company, is in late stages of discussions to acquire Dilithium Networks, a struggling mobile video solutions company. OnMobile Global CEO Arvind Rao declined to confirm or deny the development, offering only "no comment". We've contacted Marwan Jabri, acting CEO of Dilithium Networks, for a confirmation or denial. Our sources say that the deal is going to be announced within the next couple of days. The acquisition will give OnMobile much needed video capability, given the impending launch of 3G services in India. Dilithium is a technology infrastructure company for…
