Live Microsystems Inc (LMSC)

[wolfdeluxe]

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

Sep 10, 2012
OTC Disclosure & News Service

Littleton, MA

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.