Mimvi plans Lone Wolf acquisition
Mimvi plans to buy Lone Wolf.
Mimvi has agreed to acquire Lone Wolf - a process that could be bolstered through contract negotiations and merger and acquisition consultants.
The tie-up should improve the technological and strategic leadership help by Mimvi in the market for mobile app discovery.
When the organisations combine, they will create Mimvi Echo, which will change how mobile apps are marketed, enabling developers to benefit from a more effective and affordable process.
Mimvi will purchase Lone Wolf's outstanding shares for 3.8 million shares of its common stock.
Eric Rice, Lone Wolf president, explained the merger "makes sense for many reasons".
He highlighted the fact that the tie-up will provide mobile app developers with a "real solution" by leveraging the strength of both firms, as well as an improved social media reach, as some of these.
Mimvi chief executive officer Michael Poutre said the combined enterprise should create "greater marketing efficiencies for developers", as well as "provide a better user experience".
It should also "significantly increase" the company's market share, he added.
Posted by Edel Quinn
Source: Mimvi press release, August 7th