(By Nikhil Pahwa & NT Balanarayan) OnMobile Global Ltd has informed BSE that it has signed a non-binding Memorandum of Understanding (MOU) to sell telecom solutions company VoxMobili for $23-26 million, without specifying who the buyer is. Note that Vox Mobili reported a turnover of EUR 12.70 million and profit of EUR 1.03 million in FY13. A price of between $24-26 million would essentially mean that the company is being sold for 1.32 to 1.49 times its FY13 turnover, and 16.24 to 18.36 times times profit. VoxMobili is one of the two French companies acquired by Onmobile in France, the other being Telisma SA, which is now called Onmobile SA. Onmobile had acquired the French company in 2007 for around $35.12 million, to expand its services to new markets, and the company served as its hub of European operations, but more importantly, for development of its data related products, as was indicated in its 2012 earnings conference call. There appears to be a decrease in the value of the company since 2007. VoxMobili's products include Phonebook 2.0, Phone Backup, Social Home and an SDK for syncing data. Most of these products are redundant as similar tools come pre-loaded in smartphones these days. The last time OnMobile mentioned VoxMobili was in 2012 concall when it said that the company plans to being some data products made by the French unit to India. The decision to sell VoxMobili comes after Onmobile had reported a net profit of Rs 3 crore on revenues of Rs 204.3 crore for the quarter…
