INFOMEDIA RANKED IN THE ANNUAL SUNDAY TIMES HISCOX TECH TRACK 100 PROGRAMME
(Thomson Reuters ONE) -
Vringo Portfolio Investment Achieves Significant Milestone
NEW YORK - September 28, 2015 - Vringo, Inc. (NASDAQ: VRNG), a company engaged
in the innovation, development and monetization of intellectual property, today
announced that Infomedia Services Limited has been ranked in the Annual Sunday
Times Hiscox Tech Track 100 Programme. Vringo has an 8.25% ownership in
Infomedia, which it acquired in the first quarter of 2014.
"I am proud that Infomedia Group has been selected in the prestigious Tech Track
100. This achievement has been made possible by our incredible team around the
world who continue to innovate and deliver our technology for our partners.
Vringo has greatly helped formulate our IP strategy and expand our reach
globally," said Michael Tomlins, Chief Executive of Infomedia Group.
"We fully expect our rapid growth to continue over the next 12 months with the
launch of our mobile payments platform in 6 new territories and the continued
rollout of our recently launched contextual engagement platform, iView, which to
date has been deployed by EE, Microsoft and T-Mobile (US)," Mr. Tomlins
concluded.
The Sunday Times Hiscox Tech Track 100 league table ranks Britain's 100 private
tech (TMT) companies with the fastest growing sales over the latest three years.
Tech Track 100 is compiled by Fast Track and published in The Sunday Times each
September, with an awards event in November and alumni dinners throughout the
year.
"I am very proud to be associated with Infomedia and that Vringo has an equity
interest in the company," said Andrew Perlman, CEO of Vringo. "As a member of
their board of directors, I have spent a considerable amount of time with
Infomedia's CEO, Michael Tomlins, and believe that with his vision and
determination, the company is poised to become a leader in the mobile engagement
space".
Background on Infomedia Transaction
On February 18, 2014, Vringo closed a transaction with InfoMedia Services
Limited for the sale of certain assets and the assignment of certain agreements
related to our mobile social application business. As consideration, Vringo
received 18 Class B shares of InfoMedia, which represent an 8.25% ownership
interest in InfoMedia. InfoMedia is a privately owned, United Kingdom based,
provider of customer relationship management and monetization technologies to
mobile carriers and device manufacturers. As part of the transaction, Vringo has
the opportunity to license certain intellectual property assets and support
InfoMedia to identify and protect new intellectual property.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization of
intellectual property and mobile technologies. Vringo's intellectual property
portfolio consists of over 600 patents and patent applications covering telecom
infrastructure, internet search, and mobile technologies. The patents and
patent applications have been developed internally, and acquired from third
parties. For more information, visit:www.vringo.com.
Forward-Looking Statements
This press release includes forward-looking statements, which may be identified
by words such as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein. Factors that
could cause actual results to differ materially include, but are not limited to:
our inability to license and monetize our patents, including the outcome of the
litigation against online search firms and other companies; our inability to
monetize and recoup our investment with respect to patent assets that we
acquire; our inability to develop and introduce new products and/or develop new
intellectual property; our inability to protect our intellectual property
rights; new legislation, regulations or court rulings related to enforcing
patents, that could harm our business and operating results; unexpected trends
in the mobile phone and telecom infrastructure industries; our inability to
raise additional capital to fund our combined operations and business plan; our
inability to maintain the listing of our securities on a major securities
exchange; the potential lack of market acceptance of our products; potential
competition from other providers and products; our inability to retain key
members of our management team; the future success of Infomedia and our ability
to receive value from its stock; our ability to continue as a going concern; our
liquidity and other risks and uncertainties and other factors discussed from
time to time in our filings with the Securities and Exchange Commission ("SEC"),
including our annual report on Form 10-K filed with the SEC on March 16, 2015.
Vringo expressly disclaims any obligation to publicly update any forward-looking
statements contained herein, whether as a result of new information, future
events or otherwise, except as required by law.
Contacts:
Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
646-532-6777
cweinstein(at)vringoinc.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vringo, Inc. via GlobeNewswire
[HUG#1954897]
Unternehmensinformation / Kurzprofil:
Datum: 28.09.2015 - 15:00 Uhr
Sprache: Deutsch
News-ID 423008
Anzahl Zeichen: 6684
contact information:
Town:
New York
Kategorie:
Business News
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