Move2Mobile provides services to early stage businesses to support their
product and business development, and entry into the market. In return for
its services, Move2Mobile receives its payment primarily in stock in the
respective companies and as a result holds equity interests in 12 early stage
companies in the mobile sector. Move2Mobile's ownership position in each of
its portfolio companies ranges from a small equity interest to 20%.
MobiVentures will now have greater access to a broad scope of businesses in
the mobile space, which include a secure SMS technology company, a mobile
polling and voting, mobile fraud prevention and several other mobile focused
technology businesses. At year-end 2007, Move2Mobile was at break-even and
had combined equity interest in its portfolio companies valued in excess of
Move2Mobile's portfolio companies include: -- Airborne Networks Limited-Infrastructure company that develops patented self-powered WiFi/WiMax radios and nodes -- Applied Living Technologies-Mobile voting and polling application -- Kyool-Mobile price comparison and search for entertainment (CD's; DVD's; Books etc) -- Mobirent-Application that allows rental of mobile content -- OneStopClick-Broker for provision of IT services to mid-cap companies -- pictureThere.com-Mobile camera bureau service for businesses e.g. insurance fraud prevention -- SmarterPark-Mobile platform to allow car park providers to make available and transact parking spaces by mobile -- Staellium-Secure SMS technology - allows for time defined automatic deletion of messaging -- T&M Wireless-Technology that allows a single device to manage multiple SIM cards -- tetraTAB-TETRA specific devices providing efficient mobile data for public service sector -- UK Street Sounds-Online and mobile social networking specialising in urban music and youth culture
Peter Ahman, President and chief financial officer of MobiVentures,
commented, "As mobile devices have become ubiquitous, innovation and demand
for ever-changing content and services has grown exponentially. The number of
global wireless subscribers is expected to grow to just over 3.1 billion by
2011 from approximately 1.8 billion in 2005, according to Insight Research
Corporation. We realized this trend early on and now, with the acquisition of
Move2Mobile, we can leverage MobiVenture's worldwide distribution channels in
order to accelerate the growth of Move2Mobile's present and future portfolio
companies across the UK,
About MobiVentures
MobiVentures Inc. is an established provider of leading edge multi-media
mobile content and services, with clients across the UK,
About Move2Mobile
Move2Mobile is the UK's foremost wireless business incubator and accelerator. Established in mid-2002, Move2Mobile provides services to a range of businesses from start-up entrepreneurs through to established companies wishing to accelerate and grow their business. Move2Mobile's primary focus is helping businesses by providing management, financial, commercial and other support to selected start-up and early stage ventures in wireless and mobile related industries. Move2Mobile is well positioned to capitalise on its niche position as UK's foremost accelerator for early stage wireless and mobile related companies.
Statements about MobiVentures' future expectations and all other statements in this press release other than historical facts are "forward- looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. MobiVentures' actual results could differ materially from expected results. MobiVentures undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
SOURCE MobiVentures Inc.