That’s what this story in ET claims: that mobile value added services (VAS) company OnMobile is acquiring French VAS co Voxmolibili SA for about Rs. 150 crore. Voxmobili was founded in 1999, and has applications for contact, events, tasks and notes management, data synchronization, messaging and virtual storage. It’s clients include Orange, Cingular, Vodafone, France Telecom, among others.

At one point in the story, ET claims that OnMobile CEO Arvind Rao has declined comment, yet elsewhere: “The company feels that this would give it a headstart against its competitors in this sector.” So did the company decline comment, or did it give ET the story?

OnMobile is apparently readying for an IPO, and raised a second round of funding of $27.8 million (Rs 128 crore) from Deutsche Bank, Goldman Sachs and Polygon Investment Partners last October.

Updated:
VC Circle has details of the deal: OnMobile is buying 100 percent (3,697,509 shares) of Voxmobili SA for €25.83 million or $35.12 million (or Rs. 143.51 crore). Of the Rs. 143.51 crore, Rs. 104 crore is in cash and “the rest is subject to earn out valuation adjustment for a maximum amount of Rs 19.5 crore, stock options worth Rs 7.2 crore, and OnMobile shares worth Rs 12.64 crore.”