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OnMobile divests its speech technology assets for €650,000

Mobile VAS and ring back tone company OnMobile has divested some of its speech technology assets to France's Voicebox Technologies, the company said in a BSE notification. The divestment of the assets was worth €650,000 subject to adjustments, escrows and other conditions. "The speech recognition technology that OnMobile acquired through Telisma in 2008 has served its business needs well, but is no longer imperative for OnMobile’s new offerings, which are focused on smartphone apps," Florent Stroppa, managing director of OnMobile said in a statement. OnMobile acquired Telisma for €11 million. Telisma was created in August 2000 as a spin-off from France Telecom’s Research and Development Laboratory funded by European venture capital firms. Earlier in November, MediaNama had reported that the company launched a mobile application for ringback tones called Identity, currently available only for Vodafone Spain’s subscribers. New products development Onmobile had spent 2% of…

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