Sarasota firm leaves for L.A.

SARASOTA -- MobileBits Holdings Corp. (symbol: MBIT) completed its acquisition of Pringo Inc. this week. The deal was first announced this summer. Financial terms were not disclosed.

As a result, the Sarasota-based software firm will move its headquarters to Los Angeles, where Pringo is based. Its sales and marketing operations, however, will remain based on Florida's Gulf Coast, employing a staff of roughly 30.

Walter Kostiuk, MobileBits' founder, is chairman, president, and chief strategy officer of the new company. Majid Abai, founder of Pringo, is now CEO of MobileBits, a release explains.

MobileBits allows its corporate clients to connect to customers using mobile software that targets specific smartphone users. Pringo's software complements that mission by integrating social media into the MobileBits offering.