Mobile value-added services firm OnMobile Global Ltd is acquiring the 3G video technology and mobile solutions developed by venture capital backed firm Dilithium Networks Inc. The deal size was not disclosed.
The deal would help OnMobile deploy Dilithium's technology in the fast growing video content market. The deal would also give it Dilithium's portfolio of 175 advanced video technology patents. Dilithium's CTO and co-founder Marwan Jabri will join OnMobile as the head video
The share price of OnMobile closed at Rs 376.10, down by 1.36%.
Silicon Valley-headquartered Dilithium, founded in 2001, had raised nearly $100 million in multiple rounds of venture capital funding over the years. Earlier reports had suggested that Dilithium was planning to shut down India office.