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Israel's Vringo Expands In Turkey

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  • Israel's Vringo Expands In Turkey

    ISRAEL'S VRINGO EXPANDS IN TURKEY

    Israel 21C
    http://www.israel21c.org/201007278196/briefs/israels-vringo-expands-in-turkey
    July 27 2010

    Israeli company Vringo, a video ringtone and personalization solutions
    developer, announced that it's expanding its activity in Turkey.

    Vringo is the most recent Israeli company to list on Wall Street.

    The announcement came a day before the National Security Council
    Counter-Terrorism Bureau cancelled its travel warning for Israelis
    in Turkey. The country was a highly-popular vacation destination for
    Israelis prior to the flotilla incident about two months ago, when
    the Turkish passenger ship Mavi Marmara attempted to break Israel's
    naval blockade on Gaza, leading to a violent confrontation, injuries
    and deaths.

    Vringo has signed an agreement with Turkey's leading mobile content
    services provider Retromedya to expand Vringo's billing coverage in
    the Turkish mobile market. The agreement will expand Vringo's service
    to an additional 52 million Turkish mobile subscribers.

    Vringo, founded by CEO Jon Medved, went public on the American Stock
    Exchange a month ago. The company raised $11 million at a company
    value of $23 million.

    Israel's financial daily Globes reports that Vringo also has a
    cooperation agreement with Malaysian carrier Maxis, which has 11.4
    million subscribers, 34,000 of whom pay for Vringo's services and
    Armenian carrier Vivacell, with two million subscribers, none of whom
    yet pay for Vringo's services.

    On July 21, Vringo announced that RTL Belgium was marketing the launch
    of its mobile personalization platform, bringing Vringo technology
    to nearly all of the country's 11 million mobile subscribers.




    From: A. Papazian
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