- Vringo (VRNG) will receive about an 8% equity stake in Infomedia in exchange for its mobile technology business. Additionally, CEO Andrew Perlman will join the Infomedia board.
- Perlman: "We believe this transaction with Infomedia unlocks additional value ... Infomedia has achieved consistent high growth and we believe that combining our global distribution platform and research and development platform with Infomedia's product offerings and services will create a valuable synergy."
- Shares +4.4% premarket
Vringo sells mobile partnerships, apps business to Infomedia
Jan 2 2014, 08:44 ET