MBLV MobiVentures Inc (CE)

MobiVentures Inc. (OTCBB: MBLV), an international provider of high quality mobile applications, content and services, today provided an update on business operations for the fiscal first quarter ended December 31, 2007 and calendar year 2007. Nigel Nicholas, chief executive officer of MobiVentures, commented, �In the past year, we have come a long way as an international provider of multi-media content, mobile games and messaging-based mobile marketing. The market for mobile marketing and advertising will grow from $3 billion in 2007 to $19 billion by 2011, an increase of 533% according to ABI Research and mobile media content is expected to grow from an estimated $4.2 billion in 2006 to $9.5 billion by 2011, according to Juniper Research. We have spent the last twelve months positioning the company to capitalize on this opportunity. In that time, MobiVentures has been successful in developing a global network of over 150 strategic partners, consisting of global mobile carriers, service providers and content distributors, which in turn provides us a sustainable competitive advantage.� Mr. Nicholas continued, �Given the rapidly growing, yet highly fragmented nature of the market for mobile content, services and applications, our plan has been to grow through the strategic consolidation of fast growing companies within this market, with whom we can leverage our strong content development and distribution capabilities. In this way, we plan to create a one-stop-solution combining mobile content, mobile media and marketing, mobile portals and social networking. In line with this strategy, we acquired Tracebit, a Finnish mobile games and content company, in February 2007. To date, Tracebit has developed more than 30 original games and applications for mobile phones. Demand for mobile content, services and applications is being driven by a growing number of cellular subscribers around the world, especially in emerging markets. This phenomenon has enabled us to get off to a fast start in Europe and we recently expanded into Asia, Africa and North America. Our growth strategy includes geographic expansion, additional product offerings, and strategic acquisitions in this highly fragmented market.� �In October 2007, we entered into partnership agreements with Froggie S.L., a provider of mobile telephony marketing systems with operations in Argentina and Spain, and Move2Mobile, the UK�s foremost wireless incubator. These partnership agreements follow the signing of letters of intent to acquire both companies. With the acquisition of Tracebit, we have already demonstrated our ability to acquire and integrate complementary and profitable businesses, and our first priority in 2008 is to consummate these two pending acquisitions along with additional acquisitions that have already been identified as the year progresses.� Mr. Nicholas concluded, �Over the course of 2008 and beyond, we plan to leverage the content, distribution and back office synergies of the acquired companies, while creating additional product offerings to channel through our extensive global distribution network. Offerings will include mobile music services, new games and infotainment, such as mobile sport, leisure and information data sources. We also plan to initiate online and mobile marketing campaigns through affiliate marketing agencies and pay per click campaigns and we will utilize online search engines to increase traffic to the portal. These are exciting times at MobiVentures and we are confident that our talented team of leading industry executives will continue to achieve important milestones as we move forward with our strategic plans.� About MobiVentures MobiVentures Inc. is an established provider of leading edge multi-media mobile content and services, with clients across the UK, Europe, Asia and North America. MobiVentures acquires and consolidates growing companies that operate within the mobile content and service industry. Through the combined scale and resources, MobiVentures seeks to accelerate growth and time to market for its portfolio companies and their respective products, which stand to immediately benefit from the company�s broad content array, international distribution channels and strategic alliances. Statements about MobiVentures� future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. MobiVentures� actual results could differ materially from expected results. MobiVentures undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.