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NQ Mobile Acquires Feiliu to Expand Mobile Internet Services



         NQ Mobile Acquires Feiliu to Expand Mobile Internet Services

PR Newswire

BEIJING and DALLAS, Nov. 12, 2012

BEIJING and DALLAS, Nov. 12, 2012 /PRNewswire/ -- NQ Mobile Inc. ("NQ Mobile")
(NYSE: NQ), a leading global provider of mobile Internet services, today
announced that it has entered into a definitive agreement to acquire the
controlling stake of Beijing Feiliu Jiutian Technology Co. ("Feiliu") not
already owned by NQ Mobile.  As part of the acquisition, NQ Mobile expects to
provide restricted shares and a performance-based earn out if Feiliu continues
to achieve certain performance milestones.

(Logo: http://photos.prnewswire.com/prnh/20120125/CN41481LOGO-b)

Founded in 2009, Feiliu is a leading mobile interest-based community platform
with coverage in China that engages users in real-time mobile online
activities. Feiliu provides application recommendation services,
interest-based exchanges, and mobile games to its user communities. Feiliu has
over 57 million registered users and 12 million monthly active users and is
the #1 mobile online game distribution platform on iOS in China as of
September 30, 2102, according to third party research firm Sino MR.

"We are excited to become part of NQ Mobile," said Dr. Tony Ni, Founder and
CEO of Feiliu, "the combination of the two businesses will allow us to offer
NQ Mobile's security and privacy products to our user community while giving
NQ Mobile's user base access to our unique interest communities, which
increases customer loyalty and monetization per user. Together with NQ Mobile,
we expect to expand our combined user base and to gain better customer
insights as well as to provide better user experience in China and globally."

"With this acquisition, we are able to bring on a talented team and further
broaden our offerings to our large and global user bases, while enhancing our
ability to acquire, engage and monetize traffic, positioning us to become a
leading mobile Internet service platform company," said Dr. Henry Lin,
Founder, Chairman and Co-CEO of NQ Mobile, "With security remaining as our
core focus, this acquisition will move us one step closer towards establishing
a trusted mobile platform bringing users, developers and advertisers together
to engage through a variety of products, services, and community exchanges."

NQ Mobile will acquire the remaining 77.8% of Feiliu that it does not already
own by issuing up to approximately 30.8 million restricted common shares
(equivalent to 6.2 million American depositary shares, or ADSs) in NQ Mobile
to the founders of Feiliu who will remain with the company after the
acquisition, if Feiliu meets certain performance-based milestones. The shares
to be issued include approximately 18.5 million restricted common shares
(equivalent to 3.7 million ADSs ) at the closing of the transaction and a
performance-based earn out of up to approximately 12.3 million restricted
common shares (equivalent to 2.5 million ADSs ). Following the transaction,
which is expected to close in the fourth quarter of 2012, NQ Mobile will own
100% of Feiliu and expects the transaction to be earnings accretive in 2013.

About NQ Mobile

NQ Mobile Inc. (NYSE: NQ) is a leading global provider of trusted mobile
Internet services built on its world-class acquisition, engagement and
monetization platform.  The company was one of the first to recognize the
growing security threats targeting smartphone users and now has about 242
million registered and 85 million active user accounts globally. NQ Mobile's
cloud-based trust platform has been recognized by third-party testing
facilities around the world as the most effective solution for detecting and
combating mobile threats. NQ Mobile is recognized as a global pioneer in
mobile innovation and technology leadership.  NQ Mobile maintains dual
headquarters in Dallas, TX, USA and Beijing, China. For more information on NQ
Mobile, please visit http://www.nq.com.

About Feiliu

Founded in 2009, Feiliu is a leading mobile interest-based community platform
in China that engages user in real-time online group activities, built upon
unique interest communities including mobile technology, automotive, health
care, entertainment, books, games and others.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes," "estimates" and
similar statements. All statements other than statements of historical fact in
this press release are forward-looking statements and involve certain risks
and uncertainties that could cause actual results to differ materially from
those in the forward-looking statements. These forward-looking statements are
based on management's current expectations, assumptions, estimates and
projections about the Company and the industry in which the Company operates,
but involve a number of unknown risks and uncertainties, Further information
regarding these and other risks is included in the Company's filings with the
U.S. Securities and Exchange Commission. The Company undertakes no obligation
to update forward-looking statements to reflect subsequent occurring events or
circumstances, or changes in its expectations, except as may be required by
law. Although the Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and actual results may differ
materially from the anticipated results. You are urged to consider these
factors carefully in evaluating the forward-looking statements contained
herein and are cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these cautionary
statements.

For investor and media inquiries please contact:

Investor Relations
NQ Mobile Inc.
Email:  investors@nq.com
Phone: +852 3975 2853

SOURCE NQ Mobile Inc.

Website: http://www.nq.com
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