LiveWire Mobile Acquires Groove Mobile for $14.5M
LiveWire Mobile has acquire another mobile music service provider Groove Mobile for $14.5 million.
Groove Mobile powers the mobile music stores of such wireless operators as Sprint in the U.S., as well as Bell Mobility in Canada and 3 UK. LiveWire Mobile is a division of NMS Communications, which provides mobile personalization and content services to various carrier partners. According to the press release announcing the acquisition, Groove Mobile made $7.4 million in revenue last year operating the mobile music services for 12 wireless operators. That is not many download sales at all!
The acquisition allows LiveWire mobile to offer full song downloads along with ringtones and videos. However it also provides some insight into the state of the mobile music industry, still and industry that is currently underutilised and not on the rise.
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