SOURCE: Engage Mobility

October 03, 2013 07:00 ET

Engage Mobility Signs Joint Venture Agreement With Chinese Partners

Company Teams Up With Government Backed Xinhua Ruide for China Product Launch

ORLANDO, FL--(Marketwired - Oct 3, 2013) - Engage Mobility, Inc. (OTCQB: ENGA) a leader in mobile marketing technology and big data delivery has reached an agreement with Chinese government backed Xinhua Ruide Technology Co., Ltd. (Xinhua) and Shenzhen Zhichengxin Equity Investment Fund Management, Ltd. for the establishment of a joint venture to roll out a Chinese version of the Engage Mobile Engagement System by the end of 2013.

On Tuesday the parties concluded two days of meetings and negotiation in San Diego, California, emerging from the meetings with a deal in hand to launch a first of its kind mobile augmented reality, cloud based video and big data platform throughout China. A formal Memorandum of Understanding was executed by the parties on October 1, providing for a roll out of the Chinese platform within 90 days, subject to execution of final agreements, which is to take place in Beijing on November 6.

Xinhua is a subsidiary of Datang Telecom Technology Co., Ltd., which is a government owned company traded on the Shanghai Stock Exchange. Xinhua will provide the full sponsorship and backing of the Chinese government for the Engage China joint venture.

Jim Byrd, Engage CEO, stated: "This is obviously a huge day for Engage, as we have been able to strike a deal with both Xinhua and with our partner Shenzhen for the development and launch of our Mobile Engagement System in China. China is by far the largest and most prolific mobile market in the world, and we are thrilled that we will now have the opportunity to bring our amazing technology and platform to the People's Republic. To be able to do so with the sponsorship and support of the Chinese government is a huge advantage for us, and we are so happy for our shareholders that we have been able to reach an agreement with our new Chinese partners."

Engage recently released the U.S. version of its Mobile Engagement System which combines disruptive augmented reality technology with a proprietary video delivery platform, a mobile CRM and Dynamic Data delivery and management system. The Engage Mobility app is now available as a free download in both the iTunes and Google Play stores. The Company began selling the Mobile Engagement System in the U.S. in August and is now planning a roll out of the system in other countries, beginning with China.

To view a video press release of this announcement, click here:

About Engage Mobility, Inc.
Engage Mobility, Inc. (OTCQB: ENGA) is a provider of mobile marketing technologies and solutions that help businesses acquire new customers and keep existing customers engaged. Augmented reality content, mobile coupons, push notifications, geo-targeting and loyalty rewards programs are all used to build brand loyalty. The Company's pricing model enables businesses of every size to realize a superior return on their mobile marketing dollar. Gartner Group forecasts $21 billion will be spent on mobile ads by 2015. The Mobile Engagement System® is a proprietary technology that delivers a value-added service to the consumer and corporate customers. The system integrates a cutting-edge augmented reality app with a proprietary cloud-based video delivery system, a mobile CRM, Dynamic Data® delivery system, and access to Engage's substantial database of over 40 million consumers and businesses. Engage operates from offices in Orlando, Kansas City and Salt Lake City.

Disclaimer Regarding Forward Looking Statements
Any statements contained herein that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only to the date such information was released. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after release of this information.

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