OnMobile to sell 18% stake in Jump Networks

Date posted: Tuesday 17 September 2019

Mobile entertainment services firm OnMobile Systems Inc. has entered into an agreement to sell 18% stake in its Bengaluru-based subsidiary OnMobile Global Ltd to Jump Networks Ltd. As part of the deal, Jump Networks Ltd that provides co-location and bandwidth services, will buy 1.9 crore shares of OnMobile Global at a price between ₹75.50 and ₹78 apiece, the two companies said in an exchange filing. The deal value would be in the range of ₹143.45-148.2 crore.

(Dealstreet Asia)