Mobile Integrated Systems, Inc. Appoints Technology Executive Murray P.J.B. Simser as New President and Chief Executive Officer
TORONTO, May 22, 2012 /PRNewswire/ -- Mobile Integrated Systems, Inc. (OTC-PINK: MIBI) (the "Company"), a technology company focused on developing and deploying mobile products and transaction solutions to government and private lottery operators, telcos and the finance industries, is pleased to announce that Mr. Murray P.J.B. Simser, a prominent technology executive, has been appointed as the Company's President and Chief Executive Officer.
"We are delighted to have someone of Mr. Simser's caliber and experience step up to lead Mobile Integrated Systems," said Todd Halpern, Chairman of the Board. "We are at a critical juncture in the market and we need focused leadership to successfully implement our strategy and maximize our market penetration. Mr. Simser is a technology executive with a proven entrepreneurial track record. He has a deep understanding of our space and of the mobile technology that powers our offering."
Mr. Simser founded and operated tech companies in the cloud-based computing, mobile app and enterprise software spaces and was a key executive of several Silicon Valley start-ups. Mr. Simser is the Founder and Chairman of Resmis Ventures, a privately held company that takes equity positions in early stage mobile technology companies. He is the President of Merchant World Services, a privately held company that offers mobile apps focused on personal safety and security. Previously, Mr. Simser was Director of Worldwide Incubation for Microsoft Corporation, where he led an incubation team that worked on M&A deals, integration of bought assets and the globally of the related products, solutions and assets. He co-founded the cloud-based CRM software company eAssist, funded by eighty million dollars in venture capital. Mr. Simser also founded the business process offshore (BPO) company OSP that was responsible for least-cost shoring two hundred and fifty million dollars in corporate infrastructure. He was the Vice President of business development at Wireless Services Corporation, a company that offers mobile messaging platforms to MNOs, where he helped raise multi-million dollar rounds of capital and developed channel and partner relationships. Mr. Simser has also served as a manager at both Clearnet Communications, a fast growing wireless carrier, and at IDRC, an outsourcer. Mr. Simser studied Economics at the University of Ottawa where he commits time supporting school fund raising activities.
"I am delighted to be joining this dynamic company at an important time of market inflection. An entire generation of people, the millennial generation, has little if any interest in lottery. The lottery industry is going through a once in a generation shift that has put tremendous negative pressure on operator revenues. Mobile Integrated Systems provides operators with the tools necessary to engage this new generation of players," said Mr. Simser.
The Board of Directors also announced today that Mr. Emlyn David, who previously served as the Company's interim Chief Executive Officer, shall continue to serve as Chief Financial Officer. During his tenure as CEO, Mr. David implemented a number of corporate development initiatives for the Company, including revising the capital structure of the Company to facilitate corporate financing, changing the Company's name to better reflect its new business strategy. Mr. David noted, "With the appointment of Mr. Simser, the Company will have an experienced CEO with an extensive successful track record in leading businesses at the cutting edge of technology."
About Mobile Integrated Systems, Inc.
Mobile Integrated Systems, Inc. is a technology company focused on developing and deploying robust, secure, and custom-tailored mobile products and transaction solutions to a variety of industry sectors including lotteries, gaming, transportation, telecommunications, and finance, among others. The Company's technology solutions will provide its clients and partners with such features and benefits as secure electronic transactions, analytics, realistic game play, geolocation, and more. The company's executive offices are located at 502-25 Adelaide St. East, Toronto, Canada; phone 416-479-0880.
More information can be found at: http://mobileintegratedsystems.com/
This press release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such forward-looking statements are inherently uncertain. Our actual results may vary materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. Mobile Integrated Systems, Inc. cannot provide assurances that any prospective matters described in the press release will be successfully completed or that Mobile Integrated Systems, Inc. will realize the anticipated benefits of any transactions. Various risk factors that may affect our business, results of operations and financial condition are detailed from time to time in the Annual Report on Form 10-K and in the Current Reports on Form 8-K and other filings made by Mobile Integrated Systems, Inc. with the U.S. Securities & Exchange Commission. Mobile Integrated Systems, Inc. undertakes no obligation to update information contained in this release.
SOURCE Mobile Integrated Systems, Inc.
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