FRTG Acquires Intellimedia Network's Immersive Technologies Dallas, Texas, April 28, 2022 (GLOBE NEWSWIRE) -- Frontera Group, Inc. (OTC Pink: FRTG) ("Frontera" or "the Company"), a technology-focused strategic acquirer of revenue-generating companies and intellectual property (IP), today announced the acquisition of certain IP from Intellimedia Networks, Inc. (“Intellimedia”) as part of its multipart strategy to make further acquisitions from Intellimedia’s suite of technology solutions. This acquisition provides Frontera Group with a cutting-edge mix of media technology, learning platforms, and event broadcasting technologies, positioning FRTG at the forefront of a new wave of immersive technology-powered content for a wide array of customers.
Intellimedia Networks has developed and positioned several multi-million-dollar IP assets focused on media, education, and virtual event broadcasting technologies suited for a variety of market verticals. The IP that Frontera has acquired includes immersive technologies using AR, VR, and interactive experiences that open doors to innovative ways to leverage information-sharing. This form of information sharing provides high-impact, context-sensitive experiences. The 70/20/10 model for learning and development highlights that people learn from job-related experiences, as 70 percent of what people learn is experiential, compared with 20% learned from others and 10% through formal learning. FRTG's acquisition of Intellimedia's IP positions FRTG as a "knowledge enabler" supporting the "70%" of the experiential portion of learning.
"Our acquisition of Intellimedia Networks' IP places Frontera at the leading edge of the metaverse world of augmented reality, virtual reality, and interactive worlds that are poised to generate significant revenue in training and media technology applications. Frontera will participate in expanding a new mode of knowledge-sharing utilizing ROI-proven technologies," said Mr. Andrew De Luna, CPA, MBA, Interim Chief Executive Officer, Chief Financial Officer, and Vice Chairman of FRTG.
Frontera's acquisition of Intellimedia Networks' IP provides FRTG with access to a broad market play for an accelerated entry into a NASDAQ listing. "We have a strategy to acquire and invest in companies that are the next wave of new technologies with a keen focus on applications that markets require and are ready to buy" said Mr. Mann Yam, Chairman of the Board of FRTG. "Intellimedia Networks has the intellectual property to get us into new and recurring revenue streams across several vertical markets."
https://www.globenewswire.com/news-release/2022/04/28/2431328/0/en/FRTG-Acquires-Intellimedia-Network-s-Immersive-Technologies-IP.html