StockMarketWire.com - Mobile Streams has sold its premium URL Ringtones.com for $750,000.

Mobile Streams says that after taking into account a carve-out through which it will retain ownership of specific Latin American Ringtones.com sub-domains for an interim transitional period, the net cash consideration is $575,000.

CEO Simon Buckingham said: "Ringtones.com was the domain name that started the Mobile Streams content business.

"However, as we reinvent the company for the coming wave of open mobile services and apps, we are looking ahead to the exciting opportunities that our new Appitalism.com service presents.

"We want to ensure that the company has the appropriate financial resources necessary to take full advantage of the rapidly growing apps market."

The company will use funds from the sale to invest in capitalising on the significant opportunities for its new Appitalism.com apps, games, music and eBooks service in 2011.




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