MobileBits Completes Merger With Pringo, Inc.

Orlando, FL 12/6/11 (StreetBeat) --MobileBits Holdings Corp., (OTCBB:MBIT), today announced that it has completed its merger with Pringo, Inc. under the terms of the merger agreement entered into by MobileBits and Pringo. With this merger, MobileBits, a global technology company that delivers quick and easy mobile content combined with targeted advertisements, has now expanded its core capabilities; featuring a single, end-to-end digital platform to strengthen its mobile and web solutions.

The integration of Pringo's development, content management system, and user management tools into the MobileBits platform results in a highly scalable solution for delivery and connection of content and targeted advertisements to any device. MobileBits' end-to-end platform combines social, search, rich media, commerce and targeted advertising in one extensible, open architecture package that is available in 23 languages.

According to Yankee Group's latest Mobile Money Forecast, the value of global mobile transactions will grow from $241 billion in 2011 to more than $1 trillion by 2015. MobileBits' new capabilities and integrated features significantly enhance its strength to capitalize on the tremendous growth taking place in the global mobile data marketplace by reducing the time it takes to deliver and monetize any digital content.

"This merger leverages our mobile and web technologies and combines it into one single platform, providing the first solution that offers all the key features needed to deliver content with the greatest monetization capability," said Walter Kostiuk , Chairman, President and Chief Strategy Officer of MobileBits.

Gartner predicts that by 2013, the number one way consumers will access the Internet will be through their mobile devices. With mobile growth exploding, it's important for marketers to participate in this rapidly-evolving channel in order to maintain their competitive advantages.

"We are excited about bringing MobileBits and Pringo together to simplify the digital landscape for any client," says Majid Abai, CEO of MobileBits, formerly CEO of Pringo. "With this merger, we will be in a strong position to enable products that can capitalize on the enormous growth of mobile devices to deliver rich content to any device, anytime, anywhere."

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