DDR Executes Strategic Agreement with MobileBits to Enhance Mobile Marketing Offering
BEACHWOOD, Ohio, May 9, 2013 /PRNewswire/ -- DDR Corp. (NYSE: DDR) today announced a strategic agreement with MobileBits Holdings Corporation (OTCBB: MBIT), provider of SAMY, a mobile marketing and engagement platform, to acquire ValuText, DDR's proprietary location-based mobile marketing solution.
MobileBits intends to integrate the ValuText product into the SAMY solution resulting in additional opportunities for merchants and consumers to interact. SAMY will be made available to DDR tenants and shopping centers in an effort to complement and enhance their current mobile technology solutions. SAMY is an innovative 'mobile mall' application that allows shoppers to gain instant access to the latest discounts, coupons and loyalty cards, via their mobile devices.
By utilizing SAMY, DDR tenants have the opportunity to increase their consumer engagement and loyalty strategies while simultaneously driving sales at their stores. The SAMY app is free to consumers, and can be downloaded to any iOS device via the App Store, with Android support coming very soon.
Consumers using SAMY can customize their choices to meet their preferences. They select the type of merchants, brands and/or retailers they are interested in by subscribing to one or more merchants in their local area. The SAMY app also allows consumers to filter the types of products and services by category, while at the same time view all the offers and discounts available to them in the SAMY network.
About DDR Corp.
DDR is an owner and manager of 445 value-oriented shopping centers representing 116 million square feet in 39 states, Puerto Rico and Brazil. The Company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the Company is available at www.ddr.com.
About MobileBits Corporation
MobileBits, provider of SAMY, the fast growing 'Mobile Mall' that enables any merchant, retailer or brand to connect with mobile consumers in their local area through various touch points and helps increase sales. The solution provides business a complete set of tools to connect with, create and manage mobile campaigns, deals, offers, loyalty and rewards to a subscribed mobile consumer. MobileBits operates offices in Los Angeles, Sarasota, FL and Zurich, Switzerland. For more information, visit www.mobilebits.com or www.samy.net.
DDR considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company's expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as oversupply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; constructing properties or expansions that produce a desired yield on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; and the success of our capital recycling strategy. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company's Form 10-K for the year ended December 31, 2012, as amended. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
SOURCE DDR Corp.