SHAPE Services Acquires Warelex in 2.4 million USD deal

BOSTON and STUTTGART, Germany, May. 08 /PRNewswire/ --

BOSTON and STUTTGART, Germany, May 8 /PRNewswire/ -- SHAPE Services GmbH today announced that it has signed an agreement to acquire Warelex LLC, a leading developer of multimedia applications and technologies for mobile devices. By uniting the strengths and resources of SHAPE Services and Warelex the integrated company with team of 75+ highly-qualified and talented people, offices in USA, Europe and Asia will bring new unique mobile Video IM, social networking and multimedia applications and services. Both fast growing and profitable the companies share complimentary product portfolios, common strategy and focus for delivering new functionality and capabilities to mobile users.

Combining multimedia and audio-video streaming technologies developed by Warelex and SHAPE's expertise in creating bestselling instant messaging, LBS and remote access applications, the acquisition sets the stage for improving existing and creating new advanced products which incorporate VoIP, video conferencing, instant messaging and social networking to dramatically change usability of modern mobile devices.

"We are glad to become a part of the industry leader, thus strengthen its bestselling existing and future products with our technical know-how and add our products to SHAPE's portfolio where these products will get greater market visibility and penetration," said Dennis Bolgov, founder and CEO of Warelex. "The cumulative effect from the acquisition of Warelex is huge. Its multimedia technologies and expertise in video and audio streaming, which goes beyond competition, will allow us to release new products and services, including end of 2008 release of revolutionary mobile real-time broadcasting and social networking service," said Igor Berezovsky, SHAPE Services' CEO.

Warelex LLC, is a mobile application development company, since 2002 has been successfully expanding Mobiola product line of unique multimedia applications for mobile devices and providing professional services creating VoIP, speech recognition, multimodal interfaces, mobile security and multimedia services and solutions. For more information, please visit: www.warelex.com

SHAPE Services GmbH, is a leading mobile application developer, creator of such world-wide bestsellers as IM+, IM+ for Skype, RDM+, GPSed and Mobiscope. Its technologies and applications allow mobile users to stay always connected to their favorite services, peers and computers. Every day, private and corporate customers worldwide use innovative applications and services created by SHAPE Services on variety of mobile devices and platforms, such as BlackBerry, Symbian S60 and UIQ, Windows Mobile Pocket PC and Smartphone, J2ME, i-Mode, Palm OS, BREW, iPhone, iPod Touch. For more information, please visit: www.shapeservices.com

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IM+ and Mobiola are registered trademarks of SHAPE Services and Warelex respectively. All other trademarks are the property of their respective owners.