Courtesy of Benzinga.
China Mobile renews contract for NQ Mobile to provide mobile malware monitoring, alert and other security analysis services
On August 2, 2013, NQ Mobile announced that the Guangdong subsidiary of China,which has the largest number of users and amount of revenues among the subsidiaries in the China Mobile group, has renewed its contract with NQ Mobile to manage and support its mobile malware monitoring, alert and other security analysis services. Additionally, NQ Mobile will continue to provide anti-malware services for China Mobile’s Mobile Marketplace, which it has done since 2010. The Information Security Operating Center of China Mobile will also continue to leverage NQ Mobile’s technical support on the spam sample database.
NQ Mobile subsidiary, FL Mobile, becomes a key game content partner of China Mobile’s game center
On July 30, 2013, NQ Mobile announced that FL Mobile, a leading social mobile platform in China, has become the game content provider for China Mobile’s Game Center. This partnership extends the already strong relationship that exists between NQ Mobile and China Mobile. As a result, FL Mobile will now be able to leverage its strong game and entertainment pipeline with China Mobile’s large mobile user base. China Mobile has over 740 million subscribers and the company is constantly focused on finding better ways to offer their consumers with unique and differentiated services and applications. FL Mobile brings to China Mobile’s Game Center powerful games and content that will improve overall user experience and service.
NQ Mobile subsidiary, FL Mobile, announces a strategic distribution contract with Baidu
On July 23, 2013, NQ Mobile announced that FL Mobile signed a new strategic cooperation agreement with Baidu. Under the agreement, Baidu DuoKu will be the exclusive publisher of the FL Mobile-developed game, The Martial Arts Champion (Wu Lin Meng Zhu) on the Android platform in China. FL Mobile has been the exclusive publisher of this game on the iOS platform since February 2013. During this time, the game has remained among the 30 top-grossing games on iOS and reached a ranking in the top 8 at one point.
NQ Mobile agrees to purchase the remaining 45 percent stake in its subsidiary, NationSky
On July 15, 2013, NQ Mobile announced that it has entered into a share purchase agreement to acquire the remaining 45 percent stake in its subsidiary, NationSky, and intend to fully consolidate the two businesses. This transaction is expected to be accretive to earnings in the third quarter 2013 as both the revenue growth and profitability trends of NationSky are exceeding the company’s original targets. The total cash and stock consideration for the NationSky purchase is valued at $25.2 million. The consideration includes $11 million in cash and $14.2 million in the Company’s Class A common shares. There will be additional performance-based consideration provided that certain profitability targets are met over the next 18 months.
NQ Mobile subsidiary Feiliu, now branded FL Mobile, expands its game pipeline with Tencent and China Mobile Games & Entertainment Group
On July 11, 2013, NQ Mobile announced the ongoing growth of its subsidiary, FL Mobile. FL Mobile has signed a strategic agreement with Tencent’s game studio “Five Colored Stones” that gives it operating rights to a selection of mobile games developed by the studio on the iOS platform in mainland China. FL Mobile has just launched the first game, “Journey to the West – Mythical Chapter” pursuant to this strategic agreement, at the beginning of July. “Dragon’s Summon,” a puzzle and card game jointly operated and published by China Mobile Games and Entertainment Group Limited and FL Mobile, is distributed exclusively on the iOS platform by FL Mobile.
NQ Mobile subsidiary, NationSky, accelerates the growth of its enterprise mobile device management services by expanding to more than 20 new enterprise customers
On July 9, 2013, NQ Mobile announced that its subsidiary, NationSky, a leading provider of mobile services to enterprises in China, will provide enterprise MDM services to Guangzhou Overseas Chinese Hospital, a major hospital in Guangdong province, in cooperation with GE Healthcare China, one of the world’s top-tier medical technology and services providers. Additionally, AnBang Insurance Group, one of the largest insurance companies in China, has chosen NQSky as its MDM service provider to manage its company-issued mobile devices. These two large enterprise customers are the latest additions to the more than 20 major customers that have selected the NQSky MDM solution since the solution was launched in February 2013.
NQ Mobile welcomes Atlantis Investment Management Ltd (“Atlantis”), through certain of its managed funds, as an important new shareholder and increases its previously announced share repurchase plan
On July 2, 2013, NQ Mobile announced certain funds managed by Atlantis have, in aggregate, purchased both directly from the Company and in the open market the equivalent of approximately 2,500,000 American Depository Shares (ADSs). Founded in 1994, Atlantis is a Hong Kong-based independent asset management firm focused on Asian equities with about US$3.2 billion assets under management. The Company also announced its Board of Directors has authorized expanding the current share repurchase plan from US$20 million to US$35 million. Under the share repurchase plan authorized by its Board of Directors, NQ Mobile may repurchase up to US$35 million worth of its outstanding ADSs over the period from November 26, 2012 through May 26, 2014.
U.S. Cellular expands relationship with NQ Mobile, offering award-winning mobile security and privacy Android apps to its 5.2 million customers
On June 26, 2013, NQ Mobile reached an agreement with U.S. Cellular to offer NQ Mobile’s award-winning NQ Mobile Security and NQ Mobile Vault products to the 5.2 million customers of U.S. Cellular. The apps will be marketed under the names U.S. Cellular Mobile Data Security powered by NQ Mobile and U.S. Cellular Privacy Protector powered by NQ Mobile, respectively. The new agreement follows a successful retail distribution program for the NQ Family Guardian parental control suite, which has been marketed under the name U.S. Cellular Family Protector powered by NQ Mobile since May 2013.
NQ Mobile further prioritizes creating shareholder value by hiring Matt Mathison as Vice President, Capital Markets
On June 25, 2013, NQ Mobile announced that it has hired Matt Mathison to the senior management position of Vice President, Capital Markets. Prior to joining NQ Mobile, Mr. Mathison acted as Portfolio Manager and CIO of WP Asset Management. He was President of Wedge Partners, a global TMT-focused research firm with extensive reach in mainland China and Asia. Prior to leading Wedge Partners, Mr. Mathison worked in the equities division of Goldman Sachs in San Francisco.
NQ Mobile award-winning security and privacy products expand footprint to 3,500 retail stores in the U.S.
On June 24, 2013, NQ Mobile announced that it now has relationships to provide its flagship products, NQ Mobile Security™, NQ Family Guardian™ and NQ Mobile Vault™ for Android, to more than 3,500 retail locations across the U.S. beginning on June 24, 2013. In addition to the previously announced relationships with Verizon Premium Wireless Retailers such as The Cellular Connection, A-Wireless, and Go Wireless, and Metro PCS and Cricket retailers such as Gratis Cellular and I-Communication, NQ Mobile’s flagship products will be rolled out in 1,500 target stores across the U.S. beginning on June 24, 2013. NQ Mobile’s flagship products are also currently available on the Google Play store.
