MBLV MobiVentures Inc (CE)

MobiVentures Inc. (OTCBB: MBLV), an international provider of high quality mobile applications, content and services, today announced the signing of a partnership agreement with Froggie S.L. and Norris Marketing Limited, established mobile messaging and interactive marketing companies with sales across southern Europe and Latin America. The partnership agreement is a pre-cursor to the planned acquisition of both companies, as previously announced in July 2007. The partnership is expected to provide immediate synergies and enable each of the companies to leverage the joint solutions to be delivered in advance of the acquisition, which is expected to be completed in the first quarter of 2008. Froggie, headquartered in Seville, Spain, owns a comprehensive suite of mobile and marketing applications with an extensive client base and established revenue streams. Founded in 2001, the company is one of the most solid and well-positioned mobile marketing companies, providing value-added services and solutions for two emerging markets: mobile marketing and interactive marketing. The company combines short message service (SMS), wireless application protocol (WAP) and interactive voice response (IVR) systems to create a one-stop-shop for technical solutions, content providers and mass media. Nigel Nicholas, chief executive officer of MobiVentures, commented, �This partnership allows Froggie and MobiVentures to capitalize on the strong synergies between the two companies and to bring enhanced products and services to our customers. It also extends our reach into new markets, giving us the opportunity to grow our revenue and deliver innovative solutions to an ever increasing audience. This collaboration is an important first step towards our planned acquisition of Froggie, which will advance our strategy of acquiring accretive and complementary businesses within the highly fragmented market for mobile applications, content, and services.� Tom Horsey, chief executive officer and founder of Froggie, commented, �We are pleased to have taken this important first step in combining the capabilities and product offerings of MobiVentures and Froggie. The partnership will provide our respective companies with expanded distribution channels and cross-selling opportunities in advance of the acquisition.� About Froggie Froggie was founded in 2001 and is a privately held company that is headquartered in Seville, Spain. Froggie owns a powerfully compelling suite of mobile and marketing applications with an extensive client base and strong revenue streams across Southern Europe and Latin America. The company is one of the most solid and well-positioned mobile marketing companies providing value-added services with solutions for two emerging markets; mobile marketing and interactive marketing, combining SMS, WAP and IVR systems to create a one stop shop for technical solutions, content providers and mass media. About MobiVentures MobiVentures Inc. is an established provider of leading edge multi-media mobile content and services, with clients across the UK, Europe, Asia and North America. MobiVentures acquires and consolidates growing companies that operate within the mobile content and service industry. Through the combined scale and resources, MobiVentures seeks to accelerate growth and time to market for its portfolio companies and their respective products, which stand to immediately benefit from the company�s broad content array, international distribution channels and strategic alliances. 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.