NEW YORK, June 28, 2007 (PRIME NEWSWIRE) -- CyberFund, Inc. (OTCBB:CYFD) announced today that ROK Entertainment Group Limited, a leading mobile technology and applications development company, has reached an agreement to add CNBC Europe to its mobile TV content portfolio. In May 2007, ROK announced it had agreed to be acquired by CyberFund, Inc. in a Share Exchange Agreement.
ROK specializes in the provision of high-quality live and on-demand mobile TV streamed over existing 2.5G and 3G networks. ROK is currently deploying its white-label services to more than 30 selected mobile operators worldwide.
"We're delighted to have CNBC Europe as a flagship channel on ROK TV," said Jonathan Kendrick, Chairman of ROK. "As we know there is a huge and as-yet untapped demand for live and instantly-available business and financial news amongst our mobile TV customers."
The mobile TV market is forecast to grow into a multi-billion dollar industry within the next few years.
"There are 2.8 billion handsets in use worldwide at present -- representing more viewable screens than all the TV sets, all the computer screens and all the cinema screens in the world combined," added Kendrick. "And it's vital we offer this fast-growing mobile TV market the very best content available, both live and on-demand. CNBC Europe fits the bill magnificently as it allows subscribers to catch-up with the latest business news when on the move."
Commenting on the deal, Martin Kay of CNBC said, "ROK TV is a great partner for us to deploy our channel into dozens of mobile operators around the world, because of ROK's international reach and because ROK is not limited to 3G operators."
Formed by Jonathan Kendrick and John Paul DeJoria in 2003 with a mandate to develop innovative technologies for the delivery of entertainment services to mobile phones, ROK has been privately financed to date. With 150 staff and offices in the UK, U.S. and China, ROK has filed more than 40 international patent applications for its suite of mobile technologies and applications. Additional information about ROK is available at www.rokcorp.com.