OnMobile regains contract with Telefonica Spain

Mobile entertainment service provider On Mobile Global informed that Telefonica Moviles, Spain has renewed its contract with the company for a period of five years.

Telefonica among the company's largest customers. In accordance to its previous contract with Telefonica since 2012 onwards, OnMobile is providing video, editorial, gaming services to the company. Such long-term contracts assure revenue growth and add to the trustworthiness of OnMobile.

OnMobile delivers over 575 million music plays to mobile customers worldwide, on a daily basis. It caters to over 1.5 billion across the world. The company has a dominant position in the mobile Ring Back Tones (RBT) space. The company is now focusing on the gaming segment and has acquired Swedish firm Appland to strengthen its offering.

Meanwhile, on Wednesday, the stock of OnMobile Global closed at Rs. 37.75 per share, up by 1.75 per cent on BSE. The stocked open at Rs. 36.85 per share and hit an intraday high of Rs. 39.70 during the day. The benchmark index BSE Sensex closed flat at 36,321.29, up by 2.96 points or 0.01 per cent and Nifty50 closed at 10,890.30, up by 3.50 points or 0.03 per cent.