Livewire Mobile Acquires Two Customers, Assets from RealNetworks, Inc.

Livewire Mobile Acquires Two Customers, Assets from RealNetworks, Inc.

Effective September 1, 2012, Livewire Mobile, Inc., (otcmarkets: LVWR), the one-stop digital content solutions provider for carriers, consumer device manufacturers, media companies, and consumers, closed an Asset Transfer and License Agreement with RealNetworks, Inc. (the“Agreement”) whereby RealNetworks transferred to Livewire Mobile services provided under two domestic carrier services contracts, together with a team of employees and associated hardware and software technology. As part of this transaction, RealNetworks paid Livewire Mobile $2.0 million at closing. Per the terms of the Agreement, Livewire Mobile will pay RealNetworks two payments of $100,000 each over the first six months related to the performance of the services under one of these carrier contracts. 

Livewire Mobile expects these new services to result in a more than doubling of its gross revenues as reported for FY 2011 in FY 2013.

For more information contact:

Livewire Mobile Investor and Media Relations:

Investor
Todd Donahue, CFO
e: [email protected]
t: +1 978 742 3167

Media
North America: Erin Schweppe, VP Marketing
e: [email protected]
t: +1 978 742 3155

EMEA: Dave Moreau, COO
e: [email protected]
m: +44 7887 645 835
twitter: @DaveMoreau

About Livewire Mobile

Livewire Mobile, Inc. (otcmarkets: LVWR)is a mobile internet powerhouse with one of the most comprehensive one-stop digital entertainment solutions for network operators, consumer device manufacturers, brands and media companies entering the mobile market. The company's integrated suite of content services includes applications, video, games, ringback tones, ringtones, DRM-free full-track music, e-books and more as well as application and portal development, mobile advertising solutions, integrated content publishing and merchandising, and turnkey managed VAS operations. For more information, please visit www.livewiremobile.com.

Livewire Mobile is a registered service mark of Livewire Mobile, Inc. All other trade names are the property of their respective owners.

Statements other than historical facts specifically including, but not limited to, the services transferred from RealNetworks to Livewire Mobile and all financial projections included or referred to herein are “forward-looking statements” including forward-looking statements about the services transferred from RealNetworks to Livewire Mobile and all financial projections included. These statements are based on management’s expectations as of the date of this document and are subject to uncertainties and changes in circumstances. Actual results may differ materially from these expectations due to risks and uncertainties including, but not limited to, uncertainties with respect to the expected services terms, availability, content, features and functionality, and the expected revenues from these new services. In addition, while management may elect to update forward-looking statements at some point in the future, management specifically disclaims any obligation to do so, even if it estimates change. Any reference to our website in this press release is not intended to incorporate the contents thereof into this press release or any other public announcement.

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