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Ecrio Inc. Reorganizes into Two Companies, Announces New CEOs Split Will Provide Enhanced Focus and Opportunities for Both Companies in Respective Markets

CUPERTINO, Calif., May 10, 2010 (BUSINESS WIRE) -- Ecrio Inc., the leading supplier of real-time communication and commerce client software solutions for the mobile industry, announced today that it has spun out its MoBeam subsidiary as an independent company. The new company will offer its patented MoBeam(R) technology to consumers, media companies, brands and retailers in the form of a 'digital wallet' in which to securely store, manage and spend the various forms of value.

Ecrio Founder and Chairman Nagesh Challa will additionally serve as MoBeam's Founder and Chairman. Current Chief Operating Officer and Executive Vice President Tad Bogdan has been appointed President and CEO for Ecrio.

Mr. Bogdan rose to prominence at Sun, moving from sales, field training and marketing roles to manage the Javasoft Strategic Accounts team and later drive Java's successful move into smart cards. More recently, he led several new business ventures that would grow to dominate their respective markets, including his tenure as SVP of Business Development at Mobileway (later Mobile 365); and SVP Worldwide Sales and BusinessDevelopment for ActivIdentity (NASDAQ: ACTI). Bogdan's latest venture was founder/CEO for MultiMode, a communication platform acquired by global messaging provider Clickatell.

Retail industry veteran Christopher Sellers joins MoBeam Inc. as CEO.

Previously, as CEO of Agentrics, Mr. Sellers led the world's leading retailers in business innovation; global sourcing/procurement; logistics; supply chain; and product lifecycle management and development. Prior to Agentrics, Mr.

Sellers held leadership positions at EDS, Syncra and Accenture, as well as serving as CEO for Information Resources, Inc (IRIc) United Kingdom. In recognition of his comprehensive leadership experience and proven performance across multiple industries, including consumer products and retail, Supermarket News (the leading industry trade journal) named him one of the "Power 50 -- People who Drive the Industry" for 2006 and 2007.

"With experienced leaders such as Tad and Chris at the helm of their respective companies, both Ecrio and MoBeam are well positioned for continued growth and success. I look forward to working closely with both gentlemen," said Mr.

Challa.

ABOUT ECRIO Ecrio is the leading supplier of real-time communication and commerce client software solutions for the mobile industry, headquartered in Cupertino, California USA with R&D and support centers in Cupertino, Japan, Korea, and India. The company is privately held, with external funding provided by leading investment firms and companies including NTT DOCOMO and Visa, Inc.

www.ecrio.com.

ABOUT MOBEAM Headquartered in Cupertino, California, MoBeam Inc. offers its patented technology to consumers, media companies, brands and retailers in the form of a 'digital wallet' in which to securely store, manage and spend the various forms of value. www.mobeam.com.

SOURCE: Ecrio Inc.

CONTACT: Ecrio Inc. Dave Beebe, 408-366-7900, x 158 dbeebe@ecrio.com Copyright Business Wire 2010 -0- KEYWORD: United States

North America

California INDUSTRY KEYWORD: Department Stores

Discount/Variety

Technology

Supply Chain Management

Software

Telecommunications

Home Goods

Office Products

Mobile/Wireless

Retail

Communications

Advertising

Marketing

Supermarket

Other Retail SUBJECT CODE: Personnel