CALGARY, ALBERTA--(Marketwire - Feb. 3, 2011) - Poynt Corporation ("Poynt Corp." or the "Company") (TSX VENTURE:PYN), a leading provider of mobile local search services, today announced the completion of the acquisition of the local advertising publishing platform assets from go2 Media, Inc. (the "Transaction"). The Transaction includes the acquisition of certain key technologies and contracts to allow Poynt to publish mobile advertising to third party publishers.
The ad publishing operations are currently producing revenue, however, Poynt Corp. will leverage its expertise and industry-leading position in the local advertising space to accelerate the revenue growth.
The business line will be led by Matt Kojalo, who was recently hired as Vice President, Global Advertising Solutions for Poynt Corp. Matt's extensive experience spans advertising revenue generation for mobile applications and a comprehensive understanding of emerging technologies with expertise in mobile advertising. Matt will focus on managing a direct sales channel and working with ad networks to create inventory for the ad publishing platform, while simultaneously securing agreements with ad publishers and mediation engines to publish the inventory and ensuring premium ad inventory is available for placement within the Poynt app.
"This Transaction provides us the opportunity to expand our business from an app with publishing capabilities into an ad publishing platform with the ability to publish to multiple mobile applications," said Andrew Osis, CEO, Poynt Corp. "This clear and direct route into ad publishing provides yet another revenue stream for the Company."
Pursuant to the Transaction, Poynt Corp. acquired all source code, related documentation and all transferable publisher and advertiser agreements related to the monetization or distribution of location advertising, for a purchase price of US $450,000.
Subsequent to today's release, a conference call to discuss the acquisition of go2 Media Inc assets is scheduled for today, February 3rd 2011 at 4:00pm EST / 2:00pm MST. North American dial-in details as follow:
Local Toronto - 416-340-8530
North America Toll Free - 877-240-9772
Please dial in 10 minutes prior to the beginning of the call and notify the operator you are calling for the Poynt Corporation Conference Call.
Instant replay of this call will be available until February 10, 2011, dial in numbers are 905-694-9451 / 800-408-3053, pass code 2174377. You will be prompted to enter your full name, company name and phone number.
About Poynt Corporation
Poynt Corp. (about.poynt.com) develops and operates mobile applications that enhance the consumers' ability to connect with the people and businesses most important to them. Their multi-award-winning Poynt application (www.poynt.com) is a mobile local search service available over BlackBerry smartphones, iPhone and iPod Touch, Android devices and Windows Phone 7. Through agreements with directory and vertical content providers in Canada, the United States, Europe and Australia, Poynt simplifies finding and connecting with businesses, retailers and events wherever and whenever it is most convenient for the consumer. The MyInboxNow offering enables low-end feature phones to behave like smartphones for email access. MyInboxNow is available to mobile operators as a private label solution. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.
This news release and related disclosure contains forward-looking statements relating to the Transaction with go2Media, Inc., revenue and growth potential of the implementation of the publishing platform, the potential to increase revenues through leveraging the Company's position in the industry as well as sales efforts either through a direct channel or 3rd party publishers, and, the Company's ability to secure inventory and to enter into agreements to publish such inventory. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.
These forward-looking statements are based on certain key assumptions regarding, among other things: the ability of the Company to integrate the technology and market interest in the integrated technology. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: risks that the anticipated benefits of the integration will not be achieved; risks that the technology cannot be integrated as anticipated or that the integration will function as expected; risks that the Company may not be able to achieve sales efforts related to the new technology either through a direct channel or 3rd party publishers; risks that the usage of the integrated technology will not result in anticipated revenues; risks that the integration will take longer, cost more or result in more management time than anticipated; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; and the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of new for the Company's products.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.