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."
ABOUT MIMVI
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.
ABOUT PIMOVI
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.
Products or service names mentioned herein are the trademarks of
their respective owners.
Safe Harbor Statement:
This Media release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Chancellor Group, Inc., and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the
ability to compete successfully and the ability to complete
before-mentioned transactions. The company undertakes no obligation
to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
Investor Contact: Gerald
Kieft
The WSR Group
(772) 219-7525(tel.)
IR@theWSRgroup.com
www.wallstreetresources.net/mimvi.asp
SOURCE Mimvi, Inc.