Boston, MA 01/17/2014 (NYSEPost) - Vringo, Inc (NASDAQ:VRNG) embarked on the New Year on the news that the company’s mobile-technology business was being bought by Infomedia. The latter company is based in the United Kingdom. Under terms of this agreement, Infomedia will buy Vringo, Inc (NASDAQ:VRNG)’s mobile technology business, the related partnerships as well as the patents that are aligned to those technologies. In exchange for that Vringo, Inc (NASDAQ:VRNG) will receive an 8% interest in the Company and it will also license some of the IP assets to Infomedia. This will help in supporting, identifying and protecting new intellectual property.
If the specific conditions are met, this transaction is slated to reach completion by 31 March, 2014. CEO of Infomedia, Michael Tomlins said that the Infomedia team is excited to add Vringo, Inc (NASDAQ:VRNG)’s technology, its product offering and its research and development knowledge-base to their business. He said that the acquisition will add momentum to the company’s growth by providing it with an international distribution-network for their expanded product portfolio. Their partnership with Vringo, Inc (NASDAQ:VRNG) will enrich their ability to cultivate and to protect new-technology by leveraging its IP rights expertise.
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Vringo, Inc (NASDAQ:VRNG) is essentially a new company any many analysts are of the opinion that it harbors a great deal of potential. Vringo, Inc (NASDAQ:VRNG) went public 3 years ago and it still continues to look for various methods of maximizing shareholder and company value. On 14 March 2012, Vringo, Inc (NASDAQ:VRNG) announced that it had merged with Innovate/Protect. This merger of these 2 companies to a large extent hiked intellectual property and effectively added technological innovation. The newly-formed company was also positioned in a better way to be able to generate a massive amount of revenue since the time it started out as not more than a mobile business.