Pringo Merges With Florida Firm

Los Angeles-based Pringo, a developer of online portal and social collaboration tools, has merged with Florida-based MobileBits, the firms said today. The two said that Pringo's stockholders will own 50 percent of MobileBits, and MobileBits' stockholders will own 50 percent of MobileBits after the acquisition. Pringo was advised by Siemer & Associates, and MobileBits was advised by Rodman & Renshaw in the deal. Pringo's white label, social networking software was used by companies to develop their own online communities. The company was headed by Majid Abai.