Pure, founded in 2002, provides powerful, low cost e-mail, multimedia
messaging (MMS) and text messaging (SMS) marketing campaigns to businesses and
agencies, including clients such as Emap, The FT, Economist Conferences,
Littlewoods, ultimatepoker.com and innocent drinks. Through its agency
channel, Pure works with companies including
In connection with the acquisition of Pure, MobiVentures has arranged
Mr. Nicholas continued, "The acquisition of Pure has a number of important advantages, including its recurring revenue stream, augmentation of our distribution capabilities, a talented and experienced staff and significant cross-selling opportunities of turnkey marketing solutions. MobiVentures plans to leverage Pure's customer base to sell and market our mobile applications, while Pure will benefit by offering its existing and new customers a broader suite of services available through our earlier acquisition of Move2Mobile. Our goal is to accelerate our profitability through our expanded distribution, product and service offerings. We expect the combined companies to continue to generate positive cash flow by achieving strong operating leverage in the combined businesses."
Mr. Nicholas concluded, "We had previously announced the signing of a definitive agreement to acquire Move2Mobile, the UK's foremost wireless business incubator and accelerator, and we are pleased to report that we have completed the transaction. Our goal now is to rapidly and seamlessly complete the integration of Pure and benefit from the immediate synergies of our combined companies. We look forward to aggressively pursuing similarly accretive and complementary acquisitions over the next 12-18 months."
Further terms of the Pure acquisition, additional information regarding
Move2Mobile and the terms of the debentures are outlined in the Form 8-K filed
on
About MobiVentures
MobiVentures Inc. is an established provider of leading edge multi-media
mobile content and services, with clients across the UK,
About Purepromoter Limited
Pure offers a complete and flexible software solution to add power to email marketing and SMS advertising: PureResponse. Pure helps its clients develop the most effective way to display their email marketing message, and ensures its clients get the highest send rates and lowest number of opt-outs. Additional information about the company is available at: www.pure360.com.
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. The forecasted revenues and other financial
information for Pure Promoter for its fiscal year ended
SOURCE MobiVentures Inc.