Co-location and bandwidth services provider Jump Networks has acquired 18% stake in OnMobile for Rs 140 crore. Expecting to complete the sale within 75 days, Jump Networks will buy 1.9 crore shares of OnMobile Global at a price between Rs 75.50 and Rs 78 a piece.
Following the acquisition, Jump Networks technological framework will help OnMobile to strengthen its position as a global leader in mobile entertainment space. (Source)
Aarzoo is an author at Entrackr who tries to bring in an unbiased perspective while writing about the budding Indian startup ecosystem. Along the way, she also analyses the companies, their numbers, and compiles them. A graduate in Economics from Lady Shri Ram College for women, a will to explore the emerging businesses drives her the most. Connect with her at [email protected].
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