LOS ANGELES, Oct. 15, 2012 /PRNewswire/ -- Mandalay Digital Group, Inc. (OTC Markets: MNDL), a leading global mobile data services provider, today announced it has entered into an exclusivity agreement to explore the acquisition of mia, a leading mobile solutions provider based in Australia. Mandalay Digital Group and mia have agreed upon a forty-five (45) day exclusive period to explore this transaction.
"Our potential acquisition of mia is another example of Mandalay Digital Group's strategy of acquiring companies that complement the Digital Turbine content experience and accelerate its scale as we roll it out with new OEM, carrier and media partners across the globe," stated Peter Adderton, chief executive officer of Mandalay Digital Group. "mia's assets are a great fit for Digital Turbine as they provide us with new content and enhance our distribution internationally."
mia is focused on delivering content and has extensive content licenses with major brands, a content management system, and billing integration with leading global operators such as Vodafone, SingTel, and Telstra among others. The company works with both carriers and brands and has over 800 live services operating.
About Mandalay Digital Group
Mandalay Digital Group is at the convergence of internet media content and mobile communications. It delivers a mobile services platform that works with mobile operators and third-party publishers to provide portal management, user interface, content development and billing technology that enables the responsible distribution of mobile entertainment. Mandalay Digital is headquartered in Los Angeles and has offices in Europe, Israel and Latin America to support global sales and marketing. For additional information, visit www.mandalaydigital.com.
Founded in 2003, mia enables experiences on connected devices by enabling the delivery of content and applications to multiple devices, across any network, in any format. mia's Sphere platform enables carriers, media companies and brands to work together, providing the best user experience and lowering the cost of delivery. Today mia facilitates more than 800 live services.
Forward Looking Statement
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include uncertainties as to levels of orders, ability to record revenues, release schedules, market acceptance of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks including those described from time to time in the Company's filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC), press releases and other communications.
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SOURCE Mandalay Digital Group, Inc.