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NeoMedia Implements Acquisition Strategy in Becoming a ‘Driving Force’ in Mobile Internet Applications
Posted: 2/15/2006
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| Posted By: |
The Kaminer Group |
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Contact: |
David Kaminer |
| Phone: |
9146841934 |
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Email: |
dkaminer@kamgrp.com |
FORT MYERS, Fla., February 16, 2006 – NeoMedia Technologies, Inc. (OTC BB: NEOM), has implemented an acquisitions strategy designed to impact corporate shareholders, consumer goods and services companies, and enterprise partners, as well as shoppers seeking low prices, information, or a discount coupon.
More than a decade ago, NeoMedia created its visionary PaperClick® platform, a patented technology that as part of the company’s complete portfolio of intellectual properties has opened the door for the next generation in mobile applications. The initial application of PaperClick is targeted at mobile marketing, a market projected to exceed $1 billion in 2008 according to Infinity Research.
For consumers, PaperClick means clicking on SmartCodes or entering keywords on cell phones to link directly to specific content on the Mobile Internet . . . to compare prices while shopping, watch a how-to video from an instructional manual, receive an in-store coupon at a fast-food restaurant, buy movie tickets from a newspaper ad or poster, access real-time stock quotes, and many more applications to come.
And for business, PaperClick means unprecedented access to consumers though what is now known as “the third screen” – after the TV and PC – utilizing the full multimedia capability of the mobile Web.
Acquisition Strategy Set
Now, as part of the plan to make NeoMedia a leading provider of global mobile marketing services, incorporating PaperClick and the fullest range of mobile solutions, President and CEO Charles T. Jensen has devised a program of strategic acquisition of what he called “quality mobile marketing service providers in the U.S. and abroad.
On February 9, NeoMedia signed an agreement to purchase Mobot®, Inc., of Lexington, Mass., a pioneer in mobile visual recognition technology, for $10 million in cash and stock, with the transaction expected to close this month. Then, earlier this week, NeoMedia signed an agreement to purchase 12snap AG, a Munich, Germany-based award-winning leader in marketing and entertainment applications and programs via cellular phones.
12snap has offices in New York, London, Milan, Vienna, Stockholm, Düsseldorf and Munich, and a technical development center in Romania. It is the only mobile marketing company ever to win “Lions” – the Oscars of the advertising industry – at the Cannes International Advertising Festival for its work with Sony®, Coca-Cola® and Nokia®, capturing four Lions in all. 12snap was the only German company named by leading tech industry publication Red Herring in its “100 most innovative technology companies in Europe” for 2005.
Mr. Jensen said that NeoMedia’s strategy for 2006 and beyond “focuses on companies that leverage their intellectual properties as a competitive advantage, and serve markets with major share growth potential.”
Taking PaperClick World-wide
“We are confident that PaperClick will be embraced by consumer goods and services companies in many industries, all over the world,” said Martin Copus, NeoMedia’s COO and chief executive of its PaperClick wireless business unit.
“10 million subscribers in Japan are already clicking on SmartCodes with their cell phones to receive information and promotions, and in Europe, international mobile marketing providers such as 12snap have helped run successful campaigns for major blue chip clients, such as Kellogg’s®, that attracted literally millions of consumers to participate.”
"NeoMedia recognizes and salutes this pioneering success in mobile marketing as we work to be a driving force in the industry,” Mr. Jensen said.
“We have put, and continue to put, stakes in the ground in the U.S. and Europe, implementing strategies designed to make us an industry leader. Today,” he said, “we believe that NeoMedia is well positioned due to its access to significant capital, connections to growth markets, solid IP position, proven technology, known customer acceptance, convergence of market trends, demonstrated business models, and its management built from the respective markets the company serves.”
Two New Business Units
In addition, he said NeoMedia has two new business units “representing opportunistic investments in markets and companies with major shareholder upside potential” – NeoMedia Micro Paint Repair and NeoMedia Telecom Services.
NeoMedia Micro Paint Repair was formed in 2004 following the acquisition of CSI International, Inc., of Calgary, Alberta, Canada, a company recognized for its significant growth potential in the emerging micro paint industry and what Mr. Jensen called “a superior IP competitive advantage.”
Micro repair is the ability to make permanent cosmetic paint repairs on vehicles in an unusually short time, usually less than an hour, all but eliminating time-consuming and costly masking and/or removal of fenders, doors, panels and other auto body parts.
Mr. Jensen said NeoMedia’s goal “is to increase the business unit valuation by aggressively growing Micro Paint Repair into the leading player in the cosmetic paint repair industry.”
NeoMedia Telecom Services is the newest business unit, and will incorporate Triton Global Business Services of Calgary (OTC BB: BSDS), now being acquired by NeoMedia, and its operating entity, Triton Global Business Services of Calgary, Alberta, Canada. For the 12 months ending July 31, 2005, total revenue for the Triton companies was $7.4 million.
"This coming acquisition,” said Mr. Jensen, “will launch NeoMedia’s entry into the telecom industry and is expected to immediately inject revenue into the company. NeoMedia is working to bring more innovative technologies to the forefront through its proprietary technology, valuable partnerships and opportunistic acquisitions, with further newsworthy announcements anticipated in the near future.”
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