Mobile Music Firm Groove Mobile Sells NMS For $14.5 Million

This wasn't what I was expecting, but Groove Mobile, the mobile music player, has finally been bought: LiveWire Mobile, a subsidiary of NMS Communications has bought the Bedford, MA based firm for $14.5 million, which seems low. In December 2007, NMS announced the creation of LiveWire Mobile as a separate division delivering mobile personalization services to operators, and Groove fits in well there. LiveWire Mobile will hire most of the Groove's employees and the two companies will consolidate office locations.

Groove Mobile has 12 mobile operator customers including Sprint (NYSE: S), 3 UK and Bell Mobility as well as relationships with music labels including EMI, Sony (NYSE: SNE) BMG, Universal Music Group and Warner Music Group (NYSE: WMG). It generated over $7.5 million in revenue during 2007, and it currently expect LiveWire Mobile to exit 2008 with a revenue run rate in excess of $30 million. Also, NMS expects to take a restructuring charge of approximately $400,000 to $600,000 in Q108 in connection with the Groove acquisition.

More in the release here.

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