InfoMedia Services Ltd. entered into a definitive agreement to acquire mobile technology business of Vringo, Inc. (NasdaqCM:VRNG) in stock on December 31, 2013. Under the terms of the agreement, InfoMedia Services Ltd. will pay 8% stake as consideration. Vringo, Inc. will license certain intellectual property assets and support to InfoMedia Services Ltd. to identify and protect new intellectual property.

Andrew D. Perlman, Chief Executive Officer of Vringo, Inc. will join InfoMedia Services Ltd. Board of Directors. The transaction is expected to close upon the satisfaction or waiver of certain closing conditions which are anticipated to be completed by March 31, 2014.