NEWS :)More revenue coming in quick!
Feb 03, 2011 08:02 ET
Poynt Corporation Enters Ad Publishing Arena With Acquisition of go2 Media, Inc.'s Local Advertising Assets
Existing Local Ad Platform Provides New and Independent Line of Business
CALGARY, ALBERTA--(Marketwire - Feb. 3, 2011) - PoyntCorporation ("Poynt Corp." or the "Company") (TSX VENTURE:PYN), aleading provider of mobile local search services, today announced thecompletion of the acquisition of the local advertising publishingplatform assets from go2 Media, Inc. (the "Transaction"). TheTransaction includes the acquisition of certain key technologies andcontracts to allow Poynt to publish mobile advertising to third partypublishers.
The ad publishing operations are currently producing revenue,however, Poynt Corp. will leverage its expertise and industry-leadingposition in the local advertising space to accelerate the revenuegrowth.
The business line will be led by Matt Kojalo, who wasrecently hired as Vice President, Global Advertising Solutions for PoyntCorp. Matt's extensive experience spans advertising revenue generationfor mobile applications and a comprehensive understanding of emergingtechnologies with expertise in mobile advertising. Matt will focus onmanaging a direct sales channel and working with ad networks to createinventory for the ad publishing platform, while simultaneously securingagreements with ad publishers and mediation engines to publish theinventory and ensuring premium ad inventory is available for placementwithin the Poynt app.
"This Transaction provides us the opportunity to expand ourbusiness from an app with publishing capabilities into an ad publishingplatform with the ability to publish to multiple mobile applications,"said Andrew Osis, CEO, Poynt Corp. "This clear and direct route into adpublishing provides yet another revenue stream for the Company."
Pursuant to the Transaction, Poynt Corp. acquired all sourcecode, related documentation and all transferable publisher andadvertiser agreements related to the monetization or distribution oflocation advertising, for a purchase price of US $450,000.
Subsequent to today's release, a conference call to discussthe acquisition of go2 Media Inc assets is scheduled for today, February3rd 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 calland notify the operator you are calling for the Poynt CorporationConference Call.
Instant replay of this call will be available until February10, 2011, dial in numbers are 905-694-9451 / 800-408-3053, pass code2174377. You will be prompted to enter your full name, company name andphone number.