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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 its revenues on developing its new products strategy and brands in the quarter ended June 30, 2015. The company continued to spend 2% of the revenue in the September quarter too. OnMobile CEO Rajiv Pancholy also revealed that the new products and offerings from Onmobile will be rolled out between March and June 2016. Pancholy added that the new products will be launched only in selected geographies."It would be in multiple geographies, but it will not be across all geographies, so very selected introductions. I think it’s safe to say that India would be one of the geographies,” he said in an analyst call. Financials OnMobile reported a net profit after tax of Rs…

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