EW YORK--(BUSINESS WIRE)-- Vringo, Inc. (VRNG:$3.5601,$-0.0399,-1.11%) , a provider of software platforms for mobile social and video applications, today announced the completion of its merger with Innovate/Protect, Inc., a company that seeks to maximize the value of intellectual property and technology assets.
During the Company’s Annual Meeting of Stockholders held earlier today, the proposal of the merger between Vringo (VRNG:$3.5601,$-0.0399,-1.11%) and Innovate/Protect and the related issuance of securities received the support of 99.61% of the shares voted at the meeting. The boards of directors of both Vringo (VRNG:$3.5601,$-0.0399,-1.11%) and Innovate/Protect had unanimously approved the merger. Vringo’s Board of Directors also announced that Vringo (VRNG:$3.5601,$-0.0399,-1.11%) will not be effecting a reverse stock split.
The combined entity, which trades on the NYSE MKT under the symbol “VRNG,” is managed by an executive team led by Chief Executive Officer Andrew Perlman and supported by the board of directors, which consists of directors from the previous Vringo (VRNG:$3.5601,$-0.0399,-1.11%) and Innovate/Protect boards.
“We are pleased that our shareholders have shown their overwhelming support for the merger with Innovate/Protect,” said Andrew Perlman, Chief Executive Officer of Vringo (VRNG:$3.5601,$-0.0399,-1.11%) . “We look forward to establishing a world class technology company, focused on innovating, licensing, and protecting our current and future intellectual property and technologies.”
Andrew Kennedy Lang, Chief Technology Officer and President of Vringo (VRNG:$3.5601,$-0.0399,-1.11%) , said, “The closing of this merger enables the newly combined Vringo (VRNG:$3.5601,$-0.0399,-1.11%) management team to focus on building shareholder value through the creation of new and exciting technologies and the monetization of its existing assets.”
