FORT WORTH, TX--(Marketwire - November 16, 2010) - NuMobile, Inc. (
NuMobile is currently in the final stages of a Kenya-based mobile wallet acquisition with approximately $5 million in annualized revenue. This potential acquisition would expand NuMobile's service offerings, targeting a rapidly expanding industry that is expected to grow to $8 billion by 2012. According to McKinsey Quarterly, there are 1 billion people in emerging markets with a mobile phone but no access to banking, a number that is expected to nearly double by 2012. In 2012, there could be as many as 360 million mobile money users generating $5 billion annually in direct revenue and an additional $3 billion in indirect revenue.
Notably, NuMobile's anticipated acquisition of the mobile wallet company based in Kenya has made headlines in Africa and elsewhere:
(TMCnet -- South Africa -- "Acquisition of $5M African Mobile Wallet Operation Anticipated by NuMobile")
(RTT News -- "NuMobile To Acquire Mobile Wallet Operation In Kenya")
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About NuMobile, Inc. (www.numobileinc.com)
NuMobile is building a portfolio of security and software solutions for the global mobile computing and smartphone market. Through a roll-up strategy, NuMobile plans to acquire and develop mobile computing solutions for a variety of applications, including mobile banking, for the global marketplace. The demand for mobile security and software applications is being driven in large part by the growing number of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. Already in North America, the Company has also forged a partnership in the Chinese market and is developing a plan for the emerging economies of Latin America and East Africa. NuMobile is a SEC fully-reporting public company listed on the Over-the-Counter Bulletin Board.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NuMobile's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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Contact:
NuMobile, Inc.
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817-410-5735