Diversinet, AllOne settle for $4 million (US)

Categories: Latest News.

In closing one of the stranger chapters [TA 25 Jan, 20-23 April] in this ‘hype cycle’ of mHealth,  the defunct AllOne Mobile and live parent health management company AllOne Health have settled their license agreement with Diversinet, the developer of their security platform.  The price: $4 million plus the return of nearly 7 million common shares of Diversinet–14.5% of the company–purchased for $5 million by the parent of AllOne as part of the licensing agreement. Back in January, AllOne offered only $3 million to terminate the agreement with no share giveback, so clearly AllOne lost their points.  Diversinet now has an impressive ‘war chest’ of $14 million.  Why this all happened is still not known:  a Mobihealthnews interview with the Diversinet CEO is singularly, carefully boilerplate except for one line ‘Our partner decided to change their focus.’  (Considering that AllOne Mobile went out of business after gaining DOD accounts….)  Anyway we wish Diversinet the best in developing their mobile health platforms.  Release.   Mobihealthnews interview.