Vringo and m-Wise Sign Strategic Cooperation Agreement

Vringo

, a provider of software platforms for mobile video applications and video ringtones, today announced that it has entered into a Strategic Cooperation Agreement with m-Wise, Inc.

, a technology expert in mobile content management and delivery. The Agreement supersedes prior arrangements and proposed transactions between the companies, including the non-binding Letter of Intent entered into between the parties on March 8, 2011, pursuant to which Vringo agreed, subject to certain conditions, to purchase all or substantially all of the assets of m-Wise, which has been terminated. Under the terms of the Agreement, the parties agree to cooperate on projects while retaining their respective intellectual property and independent operations. In addition, the parties agree to make introductions and referrals to the products and services of the other party and will receive commissions for successful referrals. Vringo will also license m-Wise's MOMA platform to build and sell services. The Agreement allows Vringo and m-Wise to continue to work closely together and expand joint sales and marketing opportunities with leading content owners and service providers within the mobile communications arena. Financial terms of the Agreement are not being disclosed.