Rarus Technologies Signs Agreement to Acquire Augmented Reality Social Media Software Technologies
HENDERSON, Nev., May 8, 2012 /PRNewswire/ -- Rarus Technologies Inc. (OTCBB: RARS) ("Rarus" or the "Company") is pleased to announce that it has signed an Exclusive Software Property, Technical Information and Trademark License Agreement with ThinkCorp AG for the acquisition of Zngle.com (the "Agreement"), a next-generation software platform designed to take social media to new heights in the way it allows users to connect and communicate with friends, family, and business networks.
"The acquisition of the revolutionary Zngle.com technologies marks our entry into the incredibly popular and rapidly growing social media space," stated Mr. Manfred Ruf, CEO of Rarus. "Zngle.com will set itself apart from other established social media platforms by incorporating traditional video, voice, and text messaging elements with cutting edge augmented proximity reality and mobile technologies to create a uniquely valuable experience for both individuals and business users."
Under terms of the Agreement, Rarus will acquire the worldwide exclusive license to all software, technical information, and trademarks necessary to commercialize the Zngle.com business. The Agreement calls for Rarus to pay a total license fee of $22 million USD over a period of five years and a 5% royalty on net sales derived from e-commerce transactions, advertising, and other uses of the licensed technologies. For company developments see www.rarustechnologiesinc.com & www.zngle.biz
About Rarus Technologies Inc.
Rarus Technologies Inc. is an emerging technology company focused on establishing an innovative business model intended to bridge cutting-edge social media and e-commerce into a marketplace that connects friends, family, consumers, and vendors in new and exciting ways. Zngle.com is designed be a centralized Internet portal and next-generation social media website that incorporates voice/text messaging, video email, and mobile technologies to allow consumers to access real-time information about various products and services through augmented proximity reality search features.
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Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to its plans or operations. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Rarus Technologies Inc.
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