Infosys’ Mobile Content Offshoot OnMobile Planning $100 Million Raise?

Something’s surely wrong here, as I mention in this post on our sister site ContentSutra: A story says that mobile content servies firm OnMobile, an offshoot of tech giant Infosys, is looking to raise $100 million in its second round. It has a valuation of about $270 million pre-money, on about $50 million yearly revenues, the story says. Besides Infosys, several venture fund investors in the company such as Argo Global Capital Partners.
$100 million is prohibitively excessive money for such a firm…does anyone know the back story?

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