NEW YORK, March 11, 2011 (GLOBE NEWSWIRE) -- Vringo, Inc.'s (NYSE Amex:VRNG) Chief Executive Officer Jon Medved was interviewed by Erin Burnett on Tuesday, March 8 on CNBC's "Street Signs" in a live national broadcast.
Medved discussed the technology M&A landscape, noting that while there is increased M&A activity across the board, "The area which doesn't get enough focus are the small deals…Small companies are where the innovation is, real product innovation and great teams." Medved also noted Vringo's M&A activity in this area, having recently announced the signing of a letter of intent to acquire the assets of m-Wise (OTCBB:MWIS), an international provider of enabling technologies for the mobile entertainment and marketing industries with a platform used by leading content owners and service providers to manage, deliver and monetize mobile entertainment, content and applications.
In response to a question about where investors should be looking, and where he sees the sweet spot, Medved noted, "People are looking now at mobile everything, and mobile video in particular is a very, very hot space. Mobile video is coming in a very major way. It first started on the Web, it's now moving like a tsunami through the mobile arena, and I think that's a good place to play."
Medved also noted the potential for triple-digit growth in mobile video, citing Cisco data suggesting more than 100 percent growth in mobile video data for the next five years, which is "going to be huge in terms of what it does for the industry."
The entire interview with CNBC's Erin Burnett may be accessed at
Vringo's fully-hosted carrier platform is currently deployed for international partners in six markets with new launches anticipated in the next quarter. Vringo's scalable cloud-based distributed application architecture enables the carrier's subscribers to browse and download mobile videos, set them as video ringtones and instantly share them with friends. In addition to carrier partners such as Orange, Maxis and Etisalat, Vringo has content partnerships with various major content providers including EMI, T-Pain, Tiesto, Muhammad Ali, Turner, Marvel, Discovery Mobile, RTL, Ingrooves and Agence France-Presse.
Founded in 2006, Vringo (NYSE Amex:VRNG) is bringing about the evolution of the ringtone. With its award-winning video ringtone application and mobile software platform, Vringo transforms the basic act of making and receiving mobile phone calls into a highly visual, social experience. By installing Vringo's application, which is compatible with more than 200 handsets, users can create or take video, images and slideshows from virtually anywhere and make it into their personal call signature. Vringo's patented VringForward™ technology allows users to share video clips with friends with a simple call. Vringo has launched its service with various international mobile operators and dozens of content partners and maintains a library of more than 5,000 video ringtones. For more information, visit .
For more information about how video ringtones work, visit .
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This press release includes forward-looking statements that involve risks and uncertainties. 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 from the forward-looking statements. 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.
CONTACT: Vringo, Inc. Jonathan Medved CEO Email: email@example.com Phone: +1 646-525-4319 x 2501 Investor Relations Firm: Crescendo Communications, LLC John J. Quirk / David K. Waldman Email: firstname.lastname@example.org Phone: +1 212-671-1020