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Qnective Acquires MobilMedia

MobilMedia Holding AG had revenues of $2.2M for the first six months of this year

October 31, 2007

1 Min Read

ZURICH -- Qnective Inc. (OTCBB:QNTV) announced today that it has acquired MobilMedia Holding AG (MMH AG), an information technology company which had revenues of US$2.2 million for the first six months of this year.

Earlier this year, Qnective and MMH AG formed a joint venture called Qporter Inc. in order to develop a new class of communications technology and community messaging services.

MMH AG, founded in 2006, offers a number of premium Short Message Services which are community-based chat services. MMH has an estimated 160,000 registered users and about 26,000 regular users in Switzerland.

"Through the acquisition of MMH AG, we gain a significant amount of technical knowledge, expertise and intellectual property in the area of messaging technology and mobile marketing. We also benefit from a growing and loyal user base," said Oswald Ortiz, Qnective's CEO. "The combination of our resources should lead to the development of additional features and applications for our Qporter product."

Qnective Inc.

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