SAN FRANCISCO, Oct. 31, 2012 /PRNewswire/ -- Joel Achramowicz, a Managing Director at Merriman Capital, Inc., has published an update report on Mandalay Digital Group, Inc. (MNDL: OTC US), one of his top micro-cap picks in the mobile tech sector. The report outlines progress that Mandalay is making in establishing its powerful mobile applications delivery and management platform among operators around the world. In particular, Achramowicz reviewed a major global partnership that the company recently struck with Telefonica, one of the world's largest mobile operators with 311 million subscribers. Additionally, the report reviews the breadth and depth of Mandalay's multifunctional and modular product architecture along with potential complementary acquisitions under consideration.
Achramowicz commented, "Mandalay Digital is placing control of the mobile applications tsunami back into the hands of the operators, who want to play a more central role in this exploding sector. The company's Digital Turbine (DT) platform is the secret sauce that could allow them to do so, while ultimately increasing revenues per user (RPU) in the process. This is why the company is one of our top picks in the micro-cap sector."
Mr. Achramowicz currently has a BUY rating on MNDL shares with a $4.25 price target. Those interested in the report can receive a copy upon request by contacting the company at www.merrimanco.com or by calling David Lachtman at: (415) 568-5683.
About Mandalay Digital Group, Inc.
Mandalay Digital Group is at the convergence of internet media content and mobile communications. The company 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 enable the responsible distribution of mobile entertainment to subscribers worldwide. The company is headquartered in Los Angeles and has offices in Europe, Israel and Latin America. The company has a web site at: www.mandalaydigital.com.
About Merriman Capital, Inc.
Merriman Capital, Inc. is an investment banking firm providing equity and options execution services, market making, and differentiated research for high growth companies. The firm also provides capital raising, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR) and is the leading investment banking firm for OTCQX companies. For more information, please go to http://www.merrimanco.com/.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2012 and the Form 10-Q filed on August 14, 2012 . Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2012 and the Form 10-Q filed on August 14, 2012, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
SOURCE Merriman Holdings, Inc.