We begin coverage of MIMVI, a pure-play app search company for the hyper-growth Mobile Internet market.
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NBT Research Report: Mimvi (MIMV)
Back in May, I talked with Eric Rice, CEO of Lone Wolf, Inc. I made mention that Mimvi’s deal with Lone Wolf is a very big deal. Well, now that deal is coming more into fruition. Just recently, Mimvi has announced a definitive agreement to acquire Lone Wolf, Inc.
With both companies working under the same banner, Mimvi will be able to provide mobile app developers a complete marketing and distribution solution to deliver their apps to millions of people. The plan to do this is from utilizing Mimvi, Lone Wolf and its Smash Network resources together, making it a powerful player in a the mobile app world.
In addition to the agreement, Mimvi and Lone Wolf are planning on launching a new service in October. The new service is being called Mimvi Echo, and it aims to change how mobile apps are currently marketed. "We believe that Mimvi Echo is going to change the way people think about how Mobile Apps are marketed," said Poutre. "Our beta tests have yielded strong results, and we are eager to share this vision with the Mobile App development community.
The merger itself will be within 30 days and the terms of the agreement require Mimvi to purchase all outstanding shares of Lone Wolf, Inc. Which is currently 3.8 million shares of common stock.
Getting mobile app search and recommendation right is critical, marketing the apps is even better and with this latest deal, Mimvi is headed in the right direction.
Disclosure: NBT Communications owns one million MIMIV shares from past investor marketing engagements.
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