LiveWire Acquires Groove Mobile
LiveWire Mobile Inc strengthen its position on the mobile music download market by placing Groove Mobile into its pocket.
March 19, 2008
Groove offers services focused on the mobile music and video spectrum: ringback tones, ringtones, music downloads, all of which suit just right LiveWire's future purposes.
“With the acquisition of Groove Mobile, LiveWire Mobile gains significant new customers, enhances its value proposition to operators and improves its financial profile by adding a rapidly growing base of managed services revenue and accelerating its expected time to non-GAAP profitability into the fourth quarter of this year,” Bob Schechter, chairman and CEO at NMS Communications Corporation (LiveWire's parent company), said in a statement.
“With our combined capabilities, we are now in a unique position to deliver what operators and subscribers have been asking for, an integrated personalization offering,” added Eric Giller, Groove chairman and CEO.
LiveWire Mobile said that the company plans to hire most of the Groove Mobile employees.