The Economic Times:
Finally, it seems, there are some developments on OnMobile‘s fund raising efforts. The Infosys off-shoot – that works in the mobile content software space – is close to signing its third round of funding from a group of investors that includes Goldman Sachs, Deutsche Bank and two other private equity players. The amount is said to be $35 million. The investment is expected to be announced in a week’s time, the report says. So their earlier rumoured deal with Silicon Valley investors is not happening, it seems.
Infosys Technologies holds a 12 per cent stake in OnMobileThe other investor is Argo Global Capital Partners. OnMobile has been in the market to raise funds for sometime now. The company has sales of $11 million, which it expects to double this financial year. The rumoured valuation is $270 million.
Related:
–OnMobile To Raise $30-100 Million From Silicon Valley Investors
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