Mimvi Inks First Licensing Deal With Newly Formed Multimedia Company, Pimovi Companies to Share Revenue From Products Powered by Mimvi's Patented Search and Discovery Technology
SUNNYVALE, Calif., Feb. 26, 2013 /PRNewswire/ -- Mimvi, Inc. (OTCQB: MIMV), the premier mobile search and discovery technology company, today announced it has signed an agreement to license its proprietary search and recommendation technology to Pimovi, Inc. Pimovi, a recently-formed technology division, is part of Chancellor Group, Inc. (OTCBB: CHAG).
Michael Poutre, Mimvi's CEO, commented on the deal, "We are pleased to provide Pimovi the core technology that will fuel its online content discoverability. Pimovi, through its affiliation with our Chairman and CVO, Kasian (Franks), understands the significant benefits that can be realized through Mimvi's discovery technology."
The deal will enable Pimovi to power its multimedia products with built-in cognitive intelligence. The two companies will share revenue generated by products built using the licensed technology. Pimovi is in the process of developing a proprietary technology platform for pictures, movies and videos. Mimvi Chairman and CVO, Kasian Franks, also serves as a technology advisor to Pimovi.
Poutre continued, "Ultimately, consumers will benefit from this agreement given the fundamental role that search and discovery plays in a world overwhelmed with content. Our technology means that people do not have to rely solely on word of mouth recommendations. Mimvi's cognitive intelligence software makes it easier to discover meaningful content."
Headquartered in Sunnyvale, California, Mimvi, Inc. (MIMV) is the premier mobile search and discovery technology provider. Its proprietary search and "intelligent" recommendation algorithms enable the search and discovery of Mobile Apps, Mobile Content and Mobile Products across multiple devices and platforms, including: Apple's iPhone and iPad, Google Android, BlackBerry, Windows Phone, Facebook and web applications. For more information, please visit: http://www.mimvi.com.
Pimovi Inc. is a newly formed technology division that is part of Chancellor Group, Inc. (OTCBB: CHAG). It is developing a proprietary technology platform for pictures, movies and videos. Pimovi's primary focus lies in the creation of new methods for recording activities, along with editing and assembling such records in a proprietary format, including First Person Video Feeds for sporting and other events.
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SOURCE Mimvi, Inc.