[December 07, 2011] MobileBits Holdings merges with Pringo Tweet Dec 07, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- MobileBits Holdings Corporation, a developer of mobile digital solutions, has merged with Pringo, Inc., a provider of online portals and social collaboration tools. Both the companies are based in the US. Announcement (June 29, 2011): MobileBits has signed a definitive agreement to merge with Pringo. Under the terms of the agreement, Pringo's shareholders and the holders of Pringo's outstanding options and warrants will own 50% of MobileBit's outstanding shares of common stock, while MobileBits shareholders and the holders of MobileBit's outstanding options and warrants will own 50% of its outstanding shares of common stock on a fully diluted basis. Rodman & Renshaw LLC is acting as financial advisor to MobileBits, while Siemer & Associates is acting as financial advisor to Pringo. Deal Type Merger Deal Status Completed: 2011-12-06 Deal Participants Target 1 (Company) Pringo Target 2 (Company) MobileBits Holdings Corporation (formerly Bellmore Corp.) Deal Rationale The merger will complement, enhance and accelerate MobileBits' business plan and solidifies its consumer product offerings. It will also allow MobileBits to deliver a full range of online content, social collaboration and interactive data solutions. The transaction will allow both the companies for the creation of unique mobile & web solutions that deliver relevant content, applications and advertising campaigns through one scalable, enterprise-grade platform. It will allow them to focus on both consumer and enterprise sectors. [ Back To TMCnet.com's Homepage ]