Israeli company Vringo, a video ringtone and personalization solutions developer, announced that it’s expanding its activity in Turkey. Vringo is the most recent Israeli company to list on Wall Street.
The announcement came a day before the National Security Council Counter-Terrorism Bureau cancelled its travel warning for Israelis in Turkey. The country was a highly-popular vacation destination for Israelis prior to the flotilla incident about two months ago, when the Turkish passenger ship Mavi Marmara attempted to break Israel’s naval blockade on Gaza, leading to a violent confrontation, injuries and deaths.
Vringo has signed an agreement with Turkey’s leading mobile content services provider Retromedya to expand Vringo’s billing coverage in the Turkish mobile market. The agreement will expand Vringo’s service to an additional 52 million Turkish mobile subscribers.
Vringo, founded by CEO Jon Medved, went public on the American Stock Exchange a month ago. The company raised $11 million at a company value of $23 million.
Israel’s financial daily Globes reports that Vringo also has a cooperation agreement with Malaysian carrier Maxis, which has 11.4 million subscribers, 34,000 of whom pay for Vringo’s services and Armenian carrier Vivacell, with two million subscribers, none of whom yet pay for Vringo’s services.
On July 21, Vringo announced that RTL Belgium was marketing the launch of its mobile personalization platform, bringing Vringo technology to nearly all of the country’s 11 million mobile subscribers.