Mimvi, Inc. (MIMV)
-OTC Market
MIMV flexing again on recent news perhaps......ongoing support around .15....recall pop back to .30 on bullish seeking alpha article back in July...adding to mounting takeover speculation....
| MIMV | 09:30am EDT | 0.16 | 0.02 | 14.29% | 5,250 |
MIMVI, Inc. Announces Agreement to Acquire Lone Wolf, Plans Launch of App Discovery Service PR Newswire06:00am EDT
SUNNYVALE, Calif., Aug. 7, 2012 /PRNewswire/ -- MIMVI, Inc. (OTCQB: MIMV) today announced a definitive agreement to acquire Lone Wolf, Inc., a privately held social innovator which has acquired a 79-million strong online community,
The merger, with Los Angeles-based Lone Wolf, Inc., is expected to elevate MIMVI's strategic and technological leadership in the Mobile App Discovery market. "We believe that the combination of Lone Wolf and its Smash Networks product with our contextual search and recommendation technology will provide Mobile App developers a complete marketing and distribution solution and will help developers deliver a compelling proposition to millions of people on a daily basis—eliminating their reliance on app stores and other search sites for Mobile App discovery," said Michael Poutre, CEO of MIMVI, Inc. Mr. Poutre continued: "We believe the combined company will result in greater marketing efficiencies for developers, provide a better user experience and significantly increase our market share within the sector."
Eric Rice, President of Lone Wolf, commented, "A merger with MIMVI makes sense for many reasons. The merger will leverage the strengths of both companies to provide a real solution to Mobile App developers -- a group of stakeholders that have so far suffered from a lack of real marketing opportunities." Mr. Rice continued, "Our social media reach, the results of the collection of three years of valuable data, will enable MIMVI to populate
and monetize its world-class proprietary technology."
Immediate Synergies
The combined entity will jointly develop Mimvi Echo, a new Mobile App Discovery service, scheduled for launch in October, designed to completely change how Mobile Apps are marketed, with the goal of making the process affordable and effective for the growing community of developers. "We believe that Mimvi Echo is going to change the way people think about how Mobile Apps are marketed," added Poutre. "Our beta tests have yielded strong results, and we are eager to share this vision with the Mobile App development community."
MIMVI expects to leverage Lone Wolf's social media reach and community to provide mobile users with targeted marketing campaigns, creating a win for developers and consumers alike. Michael Poutre provided a glimpse into what this alliance could mean for the future of mobile: "MIMVI and Lone Wolf are in the process of launching what we will call a SuperPlatform. We anticipate this will revolutionize the digital, mobile and media industries." "We expect the Merger to close within 30 days. We strongly believe that joining forces with Lone Wolf will accelerate MIMVI's strategic, developmental and financial goals."
Financial Details
Under the terms of the agreement Mimvi will purchase all outstanding shares of Lone Wolf for 3.8 million shares of common stock.
Mimvi expects to record charges for cash and non-cash acquisition-related costs in connection with the transaction. The full extent of these charges will not be determined under the rules of purchase accounting until valuation has been completed. In addition, transaction-related professional fees shall be expensed as incurred, as required by GAAP per ASC 805 Business Combinations.
On a GAAP basis, inclusive of purchase related costs, Mimvi expects this acquisition to be dilutive in 2012. Due to the timing of this transaction, Mimvi anticipates recognizing a portion of acquisition-related costs in the third quarter with the remainder of these non-recurring costs in subsequent periods.
For more information about MIMVI, please refer to the Company's website (www.mimvi.com) or contact Investor Relations at: (248)-561-7995.
Top 5 Takeover Targets In Mobile Internet Spaceat Seeking Alpha(Tue, Jul 10)
Mimvi (MIMV.OB)
Mobile apps are making or breaking the successful shipments of smartphones and mobile devices. Mimvi knows this. Mimvi, also known for being "the Google of mobile search platforms" that helps people find and discover mobile apps, is succeeding in becoming the leading platform for providing search and recommendation services to the consumer and enterprise on the mobile front. It's essential to note that Mimvi competitors, Chomp and Quixey and now Facebook, have drawn quite a bit of attention. Chomp was recently taken over by Apple while Quixey recently raised a total of $24.2 million, part of which was raised by Google's Eric Schmidt. This places a valuation close to $100 million on Quixey, which in turn translates to a stock price of over $2 per share on Mimvi.
Meanwhile, Facebook, like Apple, is looking to take over companies to help its mobile app initiatives. Mimvi has also attracted top executives from Google to smartly position themselves as an attractive target. The mobile search space is white hot and shows no signs of slowing. Just as with web based search engines, the revenue opportunity for mobile based search engines is tremendous. This is exactly why Mimvi remains as a prime takeover target as they lead the mobile search space in terms patentable algorithms, number of search results and relevance. A takeover price target for Mimvi could reasonably be in the $5.00 per share area.
Game-Changers: 5 Mobile App Search Leaders To Watchat Seeking Alpha(Wed, Jun 27)
Mimvi's App Search & Discovery (MIMV.OB): Mimvi prides itself on being the largest search index for mobile apps at approximately 6,000,000 also including web apps. Mimvi crawls the mobile internet and includes all kinds of apps within its search index, including Apple's iPhone, iPad, Google's Android, Samsung and Blackberry apps. Mimvi also offers Amazon-like recommendations under each search result they serve. Mimvi plans to generates revenue with its search results similar to the way Google generates revenue with its search results, including a unique revenue product offered by Mimvi, called MimviLink. They also seem to working on voice-activated search for mobile apps with the same technology that powers Siri. With a leading search platform in terms of the number of searchable apps, Mimvi stands directly in front of a significant revenue opportunity, unless they opt for the same path as their previous competitor, Chomp, which was acquired by Apple. Mimvi's ability to operate on all mobile apps no matter the platform makes it an interesting and compelling investment opportunity especially considering that most any mobile app will run on most any device in the near future including RIM (RIMM) Blackberries.
http://www.nbtequitiesresearch.com/company/mimvi-mimv
...Mobile App & Recommendation is Now TOO Big to Fail for The Internet Super Giants.
The merger, with Los Angeles-based Lone Wolf, Inc., is expected to elevate MIMVI's strategic and technological leadership in the Mobile App Discovery market. "We believe that the combination of Lone Wolf and its Smash Networks product with our contextual search and recommendation technology will provide Mobile App developers a complete marketing and distribution solution and will help developers deliver a compelling proposition to millions of people on a daily basis—eliminating their reliance on app stores and other search sites for Mobile App discovery," said Michael Poutre, CEO of MIMVI, Inc. Mr. Poutre continued: "We believe the combined company will result in greater marketing efficiencies for developers, provide a better user experience and significantly increase our market share within the sector."
Eric Rice, President of Lone Wolf, commented, "A merger with MIMVI makes sense for many reasons. The merger will leverage the strengths of both companies to provide a real solution to Mobile App developers -- a group of stakeholders that have so far suffered from a lack of real marketing opportunities." Mr. Rice continued, "Our social media reach, the results of the collection of three years of valuable data, will enable MIMVI to populate
and monetize its world-class proprietary technology."
Immediate Synergies
The combined entity will jointly develop Mimvi Echo, a new Mobile App Discovery service, scheduled for launch in October, designed to completely change how Mobile Apps are marketed, with the goal of making the process affordable and effective for the growing community of developers. "We believe that Mimvi Echo is going to change the way people think about how Mobile Apps are marketed," added Poutre. "Our beta tests have yielded strong results, and we are eager to share this vision with the Mobile App development community."
MIMVI expects to leverage Lone Wolf's social media reach and community to provide mobile users with targeted marketing campaigns, creating a win for developers and consumers alike. Michael Poutre provided a glimpse into what this alliance could mean for the future of mobile: "MIMVI and Lone Wolf are in the process of launching what we will call a SuperPlatform. We anticipate this will revolutionize the digital, mobile and media industries." "We expect the Merger to close within 30 days. We strongly believe that joining forces with Lone Wolf will accelerate MIMVI's strategic, developmental and financial goals."
Financial Details
Under the terms of the agreement Mimvi will purchase all outstanding shares of Lone Wolf for 3.8 million shares of common stock.
Mimvi expects to record charges for cash and non-cash acquisition-related costs in connection with the transaction. The full extent of these charges will not be determined under the rules of purchase accounting until valuation has been completed. In addition, transaction-related professional fees shall be expensed as incurred, as required by GAAP per ASC 805 Business Combinations.
On a GAAP basis, inclusive of purchase related costs, Mimvi expects this acquisition to be dilutive in 2012. Due to the timing of this transaction, Mimvi anticipates recognizing a portion of acquisition-related costs in the third quarter with the remainder of these non-recurring costs in subsequent periods.
For more information about MIMVI, please refer to the Company's website (www.mimvi.com) or contact Investor Relations at: (248)-561-7995.
Mobile apps are making or breaking the successful shipments of smartphones and mobile devices. Mimvi knows this. Mimvi, also known for being "the Google of mobile search platforms" that helps people find and discover mobile apps, is succeeding in becoming the leading platform for providing search and recommendation services to the consumer and enterprise on the mobile front. It's essential to note that Mimvi competitors, Chomp and Quixey and now Facebook, have drawn quite a bit of attention. Chomp was recently taken over by Apple while Quixey recently raised a total of $24.2 million, part of which was raised by Google's Eric Schmidt. This places a valuation close to $100 million on Quixey, which in turn translates to a stock price of over $2 per share on Mimvi.
Meanwhile, Facebook, like Apple, is looking to take over companies to help its mobile app initiatives. Mimvi has also attracted top executives from Google to smartly position themselves as an attractive target. The mobile search space is white hot and shows no signs of slowing. Just as with web based search engines, the revenue opportunity for mobile based search engines is tremendous. This is exactly why Mimvi remains as a prime takeover target as they lead the mobile search space in terms patentable algorithms, number of search results and relevance. A takeover price target for Mimvi could reasonably be in the $5.00 per share area.
http://www.nbtequitiesresearch.com/company/mimvi-mimv
.....NBT Equities Research has extended coverage on Mimvi, Inc., a proprietary mobile app search and recommendation engine technology company. Our $1.25 2013 target represents a blended valuation of the recent $50,000,000 acquisition price of competitive rival Chomp.com by Apple and post-round valuation of @$70,000,000 for the mobile app search engine. Quixey.com......
....Cites Mimvi.com as the LAST Man Standing in Advanced Mobile Search & Recommendation Technology...Mobile App & Recommendation is Now TOO Big to Fail for The Internet Super Giants.
ALL of this strategic opportunity and carnage has led the majors to BUY their way to results—too much time is required to build from scratch. Apple bought mobile app search & recommendation engine Chomp for $50 million and immediately shut down the service to apps outside its app store. Google’s Eric Schmidt just invested $20 million in Quixey (an @$70 million valuation) to secure its mobile app search and recommendation for the Google Economy.
The next logical acquisition?
Mimvi (MIMV)—it’s now not a matter of IF but WHEN.......
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