Multiplied Media announces proposed acquisition of UnoMobi Group



    CALGARY, June 1 /CNW/ - Multiplied Media Corporation (the "Company")
(TSX:V MMC), a Calgary-based provider of mobile local search services, today
announced that it has entered into a letter of intent with UnoMobi Inc. and
Reward Phone International Inc. for the acquisition of the UnoMobi Group
("UnoMobi").

    
    About UnoMobi
    -------------
    

    UnoMobi brings with it two distinct offerings: first, a patent portfolio
including two patents having priority to 1999 concerning pushing of commercial
offers to users of GPS-equipped portable wireless devices who provided limited
profile data; and second, an Email-to-SMS patent-pending technology that
provides push email service to basic mobile phones.
    Integration of technology covered by UnoMobi's patent portfolio into the
Company's technology will provide greater value to Poynt users who wish to
receive location- and profile-centric offers. For example, a user who has
searched for and found 'Restaurant X' may be presented with an option to be
notified when Restaurant X has an offer available and the business is within a
specified location radius. The UnoMobi technology may be used for sending
coupons, offers, or other transaction-based messages to mobile users based on
their profiles. The mobile user can be connected with a mobile device such as
an in-car navigation system, smartphone or netbook.
    UnoMobi's Email-to-SMS application provides push email services to basic
mobile handsets, through telco-grade software that can handle rich media and
make it available for low-bandwidth, low-capability devices. The clientless
service provides users with full email functionality to compose, reply and
forward as well as real-time access to attachments including images,
documents, audio and video. The application is supported on any standard
POP/IMAP email system. The technology also provides the ability to handle rich
media such as ads, coupons and video trailers with very low bandwidth on any
device.
    The Email-to-SMS application works with existing carrier infrastructure
and is commencing technical trials with several major carriers around the
world.
    The push email technology will enable distribution of the Poynt
application to basic mobile phones, increasing user counts and associated
revenues, while the UnoMobi patent portfolio provides greater revenue
opportunities from businesses wishing to take advantage of communicating
directly with consumers who have indicated a predisposition for products or
services of that business.
    The acquisition adds current UnoMobi directors to Multiplied's team,
including veteran media executive Jeff Sagansky and Marvin Igelman as Chief
Strategy Officer.
    "The acquisition of UnoMobi and its patent portfolio provides important
protection and creates additional business opportunities for Multiplied," said
Andrew Osis, CEO, Multiplied Media. "The combined entity provides for greater
distribution of the Poynt application to the vast cell phone market, as well
as an enhanced offering for both consumers and businesses alike."
    "We have always believed in the value of the patent portfolio and the
acquisition by Multiplied provides a vehicle to commercialize the technology,"
said Jeff Sagansky, Chairman, UnoMobi Inc. "Our combined efforts offer
businesses the Holy Grail of advertising - the ability to communicate directly
with a consumer who has requested information about a product or service,
while the consumer is on the go and in a position to make a purchase."

    
    About the Acquisition
    ---------------------
    

    Under the letter of intent, it is proposed that the ownership of the
UnoMobi Group will be reorganized following which Multiplied will acquire,
directly or indirectly, all of the outstanding common shares of Reward Phone
(as the holding corporation of the UnoMobi Group) in an all-equity transaction
by way of an exempt take-over bid. The purchase price for the acquisition will
be satisfied by Multiplied issuing to the shareholders of Reward Phone, as at
the time of closing of the acquisition, 95,000,000 common shares of
Multiplied.
    The letter of intent is non-binding, including in respect of the
transaction terms, except for obligations relating to a period of exclusive
dealing, confidentiality and other non-material matters. If a definitive
agreement is reached (including the entering into of lock-up agreements with
the requisite number of securityholders of UnoMobi), the parties expect to
complete the acquisition in the third quarter subject to the receipt of all
necessary regulatory and other approvals and satisfaction of all other
customary closing conditions.

    (Multiplied cautions that no definitive agreement has been entered into
and accordingly no assurance can be given that the process contemplated by the
letter of intent will lead to a definitive agreement relating to the
acquisition of UnoMobi on the terms contemplated by the letter of intent or
otherwise or any other transaction. Multiplied does not intend to make any
further announcements or communications regarding this potential transaction
until either a definitive agreement has been reached or discussions are
terminated without such an agreement being reached.)

    
    About Multiplied Media Corporation
    ----------------------------------
    

    Multiplied Media (www.multiplied.com) has developed the award-winning
application Poynt (www.mypoynt.com), the mobile local search service available
over BlackBerry smartphones. Through agreements with directory and vertical
content providers in Canada, the United States and Europe, Poynt simplifies
finding and connecting with businesses, retailers and events wherever and
whenever it is most convenient for the consumer. Headquartered in Calgary, AB,
Canada, Multiplied Media trades on the TSX Venture Exchange under the symbol
MMC.

    
    About the UnoMobi Group
    -----------------------
    

    The UnoMobi Group consists of Reward Phone International Inc. (a
privately held Ontario corporation), UnoMobi, Inc. (a privately held Delaware
corporation) and Innovation LLC (a privately held Delaware corporation and
wholly-owned subsidiary of UnoMobi, Inc.). Reward Phone and UnoMobi are owned
by common shareholders. UnoMobi is a mobile software development company
focused on delivering innovative mobile messaging services to mobile
operators. UnoMobi has a unique approach for addressing the mobile services
ad-supported business opportunity that is non-intrusive and based on core IP.

    
    Forward-looking statements
    --------------------------
    

    This news release contains forward-looking statements relating to the
proposed acquisition of the UnoMobi Group and other statements that are not
historical facts, including statements regarding potential benefits of the
acquisition (such as the integration of technology covered by UnoMobi's patent
portfolio into the Company's technology, the anticipated uses of such combined
technology, the anticipated increases in the distribution of the Poynt
application, user counts and associated revenues and greater revenue
opportunities associated with the acquisition of the UnoMobi patent
portfolio), the proposed terms of the acquisition, the entering into of a
definitive agreement and associated lock-up agreements, projected timing of
closing the acquisition and the receipt of all necessary approvals and
satisfaction of all other customary closing conditions in connection with the
acquisition. 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 covered by UnoMobi's patent portfolio into the Company's
technology, market interest in the combined technology, there being no
requirement to obtain approval of the Company's shareholders for the
acquisition, and the timing of obtaining required approvals and satisfying
closing conditions. 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 acquisition will not be
achieved; risks that the technology cannot be combined as anticipated or that
the combined technology will function as expected, risks that the usage of the
combined technology will not result in anticipated revenues; risks that the
integration will take longer, cost more or result in more management
distraction than anticipated; risks that future resale of the shares issued in
the acquisition will have an adverse impact on the trading price of the
Company's common shares; the risk that closing of the acquisition could be
delayed if the Company is not able to obtain the necessary approvals on the
timelines it has planned; the risk that the acquisition will not be completed
at all if these approvals are not obtained or some other condition to the
closing is not satisfied; 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. Additionally, the Company undertakes no obligation to
comment on expectations of, or statements made by, third parties in respect of
the proposed acquisition of the UnoMobi Group.

    
    Neither 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.
    





For further information:

For further information: Andrew Osis, CEO & Director, Multiplied Media
Corporation, (403) 444-4102, andrew.osis@multiplied.com; MEDIA CONTACT:
Margaret Glover-Campbell, Director, Communications, Multiplied Media
Corporation, (403) 444-4105, margaret.glover-campbell@multiplied.com

Organization Profile

MULTIPLIED MEDIA CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890