Sunnyvale-Based MIMVI to Acquire Lone Wolf

Sunnyvale, Calif. -- MIMVI, a Sunnyvale-based developer of search and recommendation technology, said on Tuesday it will acquire Los Angeles-based Lone Wolf, developer of series of infotainment-based social communities that reach 79 million people. Under the deal, expected to close within 30 days, MIMVI will purchase all outstanding shares of Lone Wolf for 3.8 million shares of its own stock. The company said the acquisition will bolster its presence in the mobile app discovery market. The combined entity will jointly develop Mimvi Echo, a new mobile app discovery service scheduled to launch in October. Founded in 2010, Lone Wolf is the developer of Smash Network, which features mini-talk shows streamed over the Internet to computers and mobile devices.
http://www.smashnetworks.com
http://www.mimvi.com
http://finance.yahoo.com/news/mimvi-inc-announces-agreement-acquire-100000130.html