Mimvi Signs Deal With Intertrust to Develop Mobile & Search Technology

In 2003, Intertrust became a private joint venture formed by Sony and Philips in a deal worth $453 million. Today, Intertrust is an independent, privately held company headquartered in Silicon Valley, with offices in China and London. Sony, Microsoft, Nokia and other prominent companies remain strategic partners of Intertrust in developing, patenting and licensing its research related to trusted mobile applications, targeted advertising, smartphones, cloud computing and Internet TV.

The first phase of the relationship

This deal represents the first phase of the relationship. Commenting on the new agreement, Kasian Franks, Mimvi's CEO and Founder, said, "Everyone at Mimvi is delighted to be working with Intertrust in the development of technologies that will capitalize on some very exciting market opportunities. This relationship will provide Mimvi with a steady stream of revenue moving forward--then ahead of schedule in our business planning. This new source of revenue, combined with the Company's existing cash flow, will serve as one milestone toward achieving profitability. We are looking forward to collaborating with Intertrust and its key partners on more strategic levels, long into the future."

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