July 1, 2011 (Los Angeles, CA) ─ Siemer & Associates is pleased to announce it has advised Pringo, Inc., a provider of enterprise-class online portals and social collaboration tools, on its merger with MobileBits Holdings Corp., a mobile phone applications developer. The transaction is expected to close by the end of July. In the meantime, developers at MobileBits and Pringo are busy designing a series of new and exciting enterprise and consumer-focused solutions that will be announced in the next few months.
The merger will allow Pringo to expand into the flourishing mobile application market and to utilize its Admin Module, Content Management System and User Management Tool to power the web as well as mobile apps on various platforms. MobileBits, in turn, will gain the ability to deliver a full range of online content, social collaboration and interactive data solutions ─ all of which will enhance its mobile and web results, allowing for a more targeted advertising platform.
“Siemer’s consistently excellent advice guided us through numerous challenges as we collectively navigated our way from the starting point of a highly coordinated and effective market outreach process all the way through to the ultimate conclusion of this successful merger,” said Majid Abai, Chief Executive Officer of Pringo.
“The integration of Pringo’s and MobileBits’ technologies will allow for a seamless mobile and web solution that operates through one scalable, enterprise-grade platform,” said David Siemer, Managing Director at Siemer & Associates. “I am proud to have played a role in bringing the two companies together.”
About Pringo, Inc.
Pringo, Inc. provides software tools that combine enterprise-class multilingual portals, CMS, user management tools and social collaboration features in one open-source package. Its products allow for deployment and management of all websites in an organization from a simple administration console. Pringo products are an essential component of any organization’s sales, marketing and internal and external communications strategies. Pringo is based in Los Angeles, CA.
About MobileBits Holdings Corp.
MobileBits Holdings Corp. is a global technology company that produces a mobile phone application called MobileBits solutions. This app provides answers to questions posed by mobile phone users by leveraging wireless Internet connections that are already available on most phones, rather than employing a staff of human researchers. Advertisements that are related to the question are included in the answer. MobileBits Holdings Corp. is based in Sarasota, FL.
About Siemer & Associates LLC
Siemer & Associates LLC is a boutique merchant bank that serves digital media, software and Internet companies throughout their business life cycles. Our investment banking professionals have successfully completed more than 50 transactions that aggregated over $3 billion in sell-side mandates and surpassed $1.5 billion in equity capital. We offer exceptional corporate M&A, capital raising and financial advisory services.
Siemer Ventures, the early-stage investment arm of S&A, is one of the most active investment funds in Southern California, claiming more than 40 current portfolio companies and making an average of 12 new investments each year.
S&A is committed to offering honest advice and guidance based on relevant experience, deep domain knowledge and an understanding of the market. We provide our clients with the insight and perspective necessary to make informed decisions, resulting in an enviable record of client satisfaction and success. Siemer & Associates is headquartered in Los Angeles, CA with offices in New York and Hong Kong.
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