Contact Information: Contact: NuMobile, Inc. Investor Relations 214-556-5927 ir@numobileinc.com
NuMobile, Inc. Finalizes Details to Acquire Research Triangle Firm With Closing Expected Next Week
Acquisition Supports Aggressive Roll-up Plan to Increase $20 Million Sales Pipeline
| Source: NuMobile, Inc.
CARY, NC--(Marketwire - September 23, 2009) - NuMobile, Inc. (OTCBB : NUBL ) today announced
finalizing details to acquire Stonewall Networks, Inc. with an anticipated
closing next week. The management of NuMobile and Stonewall Networks met
yesterday in North Carolina and successfully completed all purchase
negotiations. The expected acquisition of Stonewall will expand NuMobile's
intellectual property library of smartphone and mobile computing software
solutions and increase the Company's existing $20 million sales pipeline.
In conjunction with NuMobilie's aggressive roll-up plan, the Company last
week completed the acquisition of Enhance Network Communication, Inc.
headquartered in Cupertino, California and currently reporting
approximately $1.2 million in profitable annual revenue. Enhance has
developed a proprietary large enterprise network security technology
designed for managing the unique information management requirements of
network delivered government services. Enhance has a potential contract
under development that would result in approximately $20 million in revenue
with $8 million in gross margin. The contract is anticipated to close as
early as year-end.
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About Stonewall Networks, Inc. (www.stonewallnetworks.com)
Stonewall Networks, Inc. is an IT security product company founded in 2005.
The Company's main product, Cornerstone Security Management Platform,
provides a total security management vision for enterprises. The Stonewall
Networks team is built from IT security and network management experts
recognized for their work on management software for many of the world's
largest hardware vendors.
About Enhance Network Communication, Inc. (www.enetcom.net)
Enhance is headquartered in Cupertino, California and currently reports
approximately $1.2 million in profitable annual revenue. Enhance has
developed a proprietary large enterprise network security technology
designed for managing the unique information management requirements of
network delivered government services. School districts make up the
majority of Enhance's current customer base. Early product testing is
currently underway with a new prospective client.
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 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.