TINGO MOBILE LANDS A GREAT MERGER

Representatives of Tingo Mobile Ltd and MTI PLC announced today that the two companies will be merging, resulting in Tingo Mobile PLC.Tingo Mobile rose to prominence so quickly by focussing on Nigeria and East Africa, selling cheap smart and feature phones to farmers’ cooperatives, market cooperatives, artisans and transport unions across Nigeria. Tingo Mobile sold over eight million phones to these groups in the first quarter of 2015.Tingo is also taking the mobile chat and mobile payments market by surprise, with emphasis on African and Indian contents. Tingo has also been developing nano-battery technology and a cloud operating system for mobile phones. Tingo is yet to announce a date for its retail release.”This merger redefines technology business in Africa and berths an ecosystem convenient for Africa and other third world nations, it charts a new course for both companies in delivering greater value to our customers, clients and shareholders”- Dozy Mmobuosi ( CEO, Tingo Mobile).
MTI PLC is licensed to provide a broad spectrum of world class telecommunication products and services (these include switches, GSM Base Transmission Stations, fibre, broadband, sales and production of telecoms devices and equipment).

MTI PLC has partnered Itatel of Milan, Planeta Luz of Brazil in a joint venture along with Beijing Runs Enberger and Eastcom China.”This deal brings to the centre stage; world class expertise, new and viable technology and access to a larger market”- Dr Nosike Agokei (Managing Director, MTI PLC)Tingo Mobile is set to commence operations in India as well via Pluggdd India, a fast rising mobile technology and application services provider. Tingo Mobile holds 60% equity in this special purpose vehicle company.

“We are innovating and uncovering how best a cloud operating system can become friendlier for markets such as Africa and India. Along with the Operating Systems, we are also working on smart and super phones that alleviate battery and connectivity challenges. We thoroughly understand the technology needs of third world markets and we are addressing them.” – Tabrez Alam (Chief Executive Officer, Pluggdd India).

“The merger is expected to be concluded in a couple of weeks as shareholders of both entities have approved. We expect that the parties to this transaction will conclude and consummate this deal”- Chidiebere Ugochukwu- Company Secretary, Tingo Mobile.

Design and develop hardware for smartphone and feature phones, keeping in mind the needs of the Indian Subcontinent and African Continent markets. The company shall design/ ideate and collaborate with OEMs to launch products that can make a mark in the above mentioned markets.

Design and develop applications and software for smartphones and feature phones, that improve the utility of smartphones for end users. Apart from developing indigenous versions of already available applications (such as messengers, wallets, etc); also look at developing new products for Smartphones.

Key Objectives:

•Launch Pluggdd/ Tingo branded phones in the Indian Market

•Look at capturing 10% of the Indian Smartphone Market

•Design and Develop convergent systems and applications for mobile phones

Pluggdd India – Current Focus Areas

(1) Battery – Longetivity and Speed of Charging: Identification and finalization of technologies to be used for improving the longetivity and charging speed of batteries.

(2) Operating System (Cloud Based): To develop proprietary Operating System that serves the purpose of the devices launched by Tingo and Pluggdd.

(3) Applications (Existing/ New and Innovation): Ideate and develop more applications; and enhancements to existing applications for greater ease of use for the end user