News
ROK completes Cyberfund share exchange
Stuart O'Brien Nov 15 2007, 2:00pm
ROK Entertainment prepares for M&A activity following US listing.
UK-based mobile TV specialist ROK Entertainment Group has completed a share exchange transaction with Cyberfund.
Speaking to ME, ROK CEO Laurence Alexander said the deal gives ROK the means to speed up service deployments and the funds to embark on a period of M&A activity.
He said: "There are a lot of companies out there with great technologies and content, but no distribution. We already have entry points into operators and they're demanding more content to fill those pipes. You'll be seeing several M&A announcements from us in the coming weeks."
The newly combined company will operate initially under the name of Cyberfund and will continue to be listed on the NASD’s Over-the-Counter (OTC) Bulletin Board under the trading symbol, CYFD.
Cyberfund will reincorporate in the state of Delaware and change its corporate name to ROK Entertainment Group, Inc., upon necessary stockholder approval.
Following the share exchange, ROK’s existing management assumed their same positions with the publicly-traded company.
'Old' ROK has launched mobile TV services with AIS (Thailand), Telenor (Pakistan), BSNL (India), Avea (Turkey) and Vodacom (South Africa). It's app is also embedded in Nokia's Eseries handsets in Europe.
The company has also produced copy-protected movies stored on memory cards, P2P games and VoIP mobile calling.
