SUNNYVALE, Calif. , May 23, 2012 /PRNewswire/ -- Mimvi Inc. (OTCBB: MIMV) and Lone Wolf Inc., founders of Smash Networks, are creating what the team calls a "Super Platform" designed to combine consumer data driven app development (web and mobile), marketing, lead generation and cultivation, content creation, publishing and syndication under one roof. (" Lone Wolf "), announced today that they have signed a non-binding letter of intent for Mimvi to acquire Lone Wolf , including Smash Networks. In addition, a principal of Lone Wolf will hold a seat on Mimvi's Board of Directors following closing. In addition, at closing, Eric Rice , Chief Executive Officer for Lone Wolf will join Mimvi as an executive officer of Mimvi.
"We are very excited that Lone Wolf and Smash will become a part of our business," said Michael Poutre , CEO of Mimvi. "Acquiring Lone Wolfe and Smash will enable us to generate additional revenue, attract more customers, increase our market share and develop more attractive apps with a built in distribution model. Utilizing the new "Super Platform" Mimvi will become the first mobile developer with the ability to control its own proprietary mobile and web platforms, content creation teams, social media distribution, advertising platforms and social environments. The platform will allow us to capture social data, using real time consumer feedback that allows our developers to identify the needs of the consumer, as well as how the consumer wants to be communicated with."
"Understanding what people need, and how to deliver content to them in a manner that is dignified, respectful, and most importantly – of value to the consumer, is the new paradigm of advertising. Advertisers are tired of wasting money on web ads placed in irrelevant areas, and consumers are tired of annoying ads that get in the way of their online or mobile experience. We are creating the new standard for how companies communicate with consumers, and we could not be more thrilled about our future," said Poutre.
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