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OnMobile selling VoxMobili to Synchronoss Technologies for $26 million

OnMobile Global has signed a Share Purchase Agreement (SPA) with Synchronoss Technologies Inc for the sale of VoxMobili SA. The company had announced earlier that it will be selling the French telecom solutions company VoxMobili for $26 million (around VoxMobili's book value), without mentioning the name of the buyer. VoxMobili had 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. It is one of the two French companies acquired by Onmobile in France, the other being Telisma SA, which is now called Onmobile SA. NASDAQ-listed Synchronoss is a  cloud solutions and software activations company. The company reported net revenues of $98.5 million, an increase of 26% year-on-year and a gross profit was $58.5 million in the first quarter of 2014. On the mobile services side, Synchronoss offers a technology that lets service providers activate services for customers easily. Onmobile had acquired VoxMobili 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…

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