SOURCE: Viyya Technologies

December 07, 2010 08:49 ET

Viyya Technologies Engages Green Global Funding

FAIRFIELD, NJ--(Marketwire - December 7, 2010) - Viyya Technologies, Inc. (PINKSHEETS: VYON) announced today that it has signed a Term Sheet and Engagement Letter with Green Global Funding, Inc. of Farmingdale, New York for up to $4 million in investment capital. The investment will fuel the company's market expansion and deployment between network operators and publishers.

"This funding is a terrific vote of confidence for Viyya and its Premium Content eXchange technology," said John Bay, President and CEO of Viyya. "We've had a vision for the company and our capabilities on becoming the fastest growing company in our sector. We plan to use this funding to invest heavily into carrier and publisher acquisition and to initiate and intensify our recurring revenue model."

Green Global Funding was established in 1989 and has more than 20 years of "hands on" investment experience. Their management team provides financial services and direct investments for innovative companies embarking on explosive new market segments.

"We are excited about Viyya, their vision and the opportunity that lies before them," stated Freddy Green, President and CEO of Green Global. "This funding can catapult Viyya into the mainstream carrier AppStore markets while redefining the way magazines and newspapers are read by worldwide mobile subscribers!"

About Viyya Technologies:

Viyya Technologies (www.viyya.com) (PINKSHEETS: VYON) is a publicly traded company based in Fairfield, New Jersey. The company develops content intelligence, cloud-based applications and platforms that distribute global premium content via the mobile ecosystem.

The company's core technology components manage information by enabling mobile subscribers to personalize the way they collect, process, and experience digital content. Its innovative and proprietary technology gives users the ability to retrieve filtered premium content from multiple sources, organizes it through flexible and dynamic options, and view it on virtually any fixed or mobile Internet device. For additional company information, please visit www.viyya.com.

Legal Notice: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this release. These statements relate to future events or financial performance; are based on current expectations/projections about Viyya and its industry; and may differ materially from actual future results or events. Such words as "expects," "believes," and "anticipates" are intended to identify these statements. Viyya disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information

  • Contact:
    Pam Dominiczak
    Investor Relations
    Viyya Technologies, Inc.
    Phone: 973-276-0555