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2011-03-18 16:10:00 CET 2011-03-18 16:10:01 CET REGULATED INFORMATION GeoSentric Oyj - Company AnnouncementCO-OPERATION AGREEMENT ANNOUNCED WITH A MAJOR CHINESE MEDIA COMPANYGEOSENTRIC OYJ STOCK EXCHANGE RELEASE March 18, 2011 at 17.10 CO-OPERATION AGREEMENT ANNOUNCED WITH A MAJOR CHINESE MEDIA COMPANY The Company's wholly owned Chinese subsidiary has recently entered into a Cooperation Agreement with Sina (Beijing) Information Technology Co., Ltd., whose parent company, Sina Corp. is listed on the US NASDAQ market under the symbol (SINA). The Cooperation Agreement provides for development, marketing and distribution co-operation between the two companies for a newly launched"Weilingdi" Location Based Services (“LBS”) and Social Networking Services (“SNS”) service in China. Under this agreement, GeoSentric and Sina have jointly developed the new “Weilingdi” service and Sina will actively market it to its 100m+ "Weibo" application users. The "Weilingdi" service combines Sina's exclusive content such as entertainment, lifestyle information and VIP assets built on top of the existing "Lingdi" service launched by GeoSentric last year. This Cooperation Agreement is a vital step forward in progressing discussions for a deeper relationship between the two companies potentially resulting in a joint venture agreement but it is not expected to provide immediate short-term revenue to the group. GeoSentric Oyj For more information, please contact: investors@gypsii.com Distribution: NASDAQ OMX Helsinki Principal news media |
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