BENGALURU: OnMobile SA, a wholly owned subsidiary of OnMobile Global, has entered into an agreement with Voicebox Technologies France S.A.S., for the divestment of certain speech technology assets for a consideration of €650,000, subject to adjustments, escrows and other conditions. The deal is contingent upon certain approvals and events.

OnMobile SA managing director Florent Stroppa said, “This divestiture is in line with the company’s plan to concentrate its energy and resources on strategic initiatives. 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. We expect the transaction to close by 31 January, 2016.”

OnMobile acquired 100 per cent of the European speech recognition company, Telisma, on 1 July, 2008. The company had then said that the addition of Telisma’s standards compliant speech recognition products and expertise would enable it to accelerate its penetration into fast growing emerging markets by developing new speech recognition language models. At that time, OnMobile said that Telisma’s technology enables quick and easy access to mobile applications and content and also strengthened OnMobile’s mobile applications product suite.