uVuMobile Signs Letter of Intent to Acquire WASP Mobile

ATLANTA, May 19 /PRNewswire-FirstCall/ -- uVuMobile™, Inc. (Pink Sheets: UVUM), a mobility solutions and content aggregator announced today that the Company has signed a letter of intent to acquire WASP Mobile, LLC, a privately-held company based in Boca Raton, FL, as a wholly owned subsidiary of uVuMobile.  The Board of Directors of both companies has approved the acquisition and the transaction is anticipated to close within the next 30 days.  

WASP Mobile, LLC is a technology driven company that has developed its own suite of mobile marketing, mobile application and E-commerce solutions.  The company's SMS platform offers customers the ability to run marketing and billing campaigns through many of the leading wireless providers in North America including Verizon, AT&T and Sprint.  Its mobile application development platform enables WASP to build applications for multiple smartphone platforms including iPhone, Android, Windows, BREW and Ovi (Nokia).

"The joining of WASP with uVuMobile will put both companies in a strong position for market growth," said Richard Seifert, President and CEO of uVuMobile.  "There is tremendous demand for companies that can deliver mobile video and application services to the market and we intend to compete vigorously for market leadership in this space."

"The combined companies present us with increased opportunities to offer media and marketing companies a 'one-stop shop' for development, marketing and distribution of mobile video applications and services," said Rick Catinella, President of WASP Mobile.  "I am looking forward to working together as a member of the combined team.  We believe that this combination will create an opportunity for accelerated growth and significantly increase our existing revenue stream."  

"This acquisition by uVuMobile will be in the form of company stock," Mr. Seifert said.  "Both parties are eager to conclude this deal as quickly as possible."

About uVuMobile

uVuMobile recognizes the ever-increasing demand for personalized, interactive entertainment content anytime and anywhere on media-enabled devices by offering a full suite of products that effectively deliver video and audio content to mobile handsets. uVuMobile provides back-end media hosting, application development, mobile marketing, messaging, content aggregation, billing, advertising and other services directed towards the mobile business-to-business market. These services are now available to entertainment brands, carriers, developers, aggregators, distribution partners and other players in the mobile value chain.  uVuMobile now offers ad supported and white label mobile video services. For additional information, please visit www.uvumobile.com.

About WASP Mobile, LLC

WASP is a technology driven marketing company that provides an integrated Mobile and Web based software as Service (sass) to businesses or brands seeking to digitize and mobilize their marketing campaigns. Using our proprietary technology, proven marketing efforts and turnkey solutions, we make every facet of building or improving on a campaign relevant to current consumer trends. WASP clients choose from a suite of services that effectively entails all facets under the mobile umbrella including: SMS text messaging (short code), Bluetooth /Proximity Marketing, and Mobile Web and Mobile Applications.

Forward Looking Statement

This press release contains forward-looking statements that involve risks and uncertainties concerning uVuMobile's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, financial results, financial position and liquidity are included in uVuMobile's Annual Report on Form 10-K for the year ended December 31, 2008 and in other reports filed by uVuMobile with the SEC subsequent to the filing of such Form 10-K. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov or from uVuMobile's web site at www.uvumobile.com. uVuMobile hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.

All trademarks and/or registered trademarks are the property of their respective owners.

SOURCE uVuMobile, Inc.

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