Savtira Corporation Closes Equity Funding Round

TAMPA, Fla., July 6, 2011 /PRNewswire/ -- Savtira Corporation (Savtira), a new provider of B2B Cloud Commerce solutions, today announced the company closed an equity funding round to develop and deliver its Cloud Commerce platform. The financing comes from a prominent group of investors, among them Sir Michael Marshall, chairman of Marshall of Cambridge (Holdings) Ltd., a 100 year old private family company and the largest engineering company in Cambridge UK.

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"We have now passed an important equity funding milestone," said CEO Tim Roberts. "Savtira is getting bigger and better every day, and we are looking forward to dominating the market with our Cloud Commerce platform."

The announcement of the company closing its equity funding round comes on the heels Savtira's first major contract: to develop and deliver its Cloud Commerce platform for tablet devices from Tabulous Cloud LLC (Tabulous), a wholly-owned subsidiary of NexBoom Universe (NexBoom).  Tabulous has a contract with HTC to deliver its 7" HTC Flyer tablet and also distributes its own Tycoon 10" tablet.  Savtira and Tabulous are creating an integrated sales and marketing plan in which the tablet device version of the Savtira platform will be distributed under the trademarked brand "Tab Commerce" and is expected to generate minimally $56 million in transactions processed over the initial eighteen months of sales.  The tablet devices will be sold to five key markets: Wireless Providers, Education, Media and Entertainment, Multi-Level Marketing and Enterprise Business.

The rapid growth of Savtira's Digital Catalog continues with numerous distribution deals for both physical goods and digital media.  Savtira's catalog now includes millions of products with physical goods such as consumer electronics, as well as digital media goods such as movies, video on-demand, internet TV, software, internet radio stations, eBooks, audiobooks and games, and music.

In addition, Savtira boasts a heavy hitter in games and video with Board Member Chris Deering, COO of Columbia/Tristar International Video from 1991-1995 and founder and CEO of Sony PlayStation for Europe, the Middle East, Africa and Australasia from 1995 through 2005, at which point he retired from Sony.  Deering is fondly referred to by many in the gaming industry as the "Father of the PlayStation."

Finally, Savtira completed construction of a state-of-the-art Data Center with high performance, cost-effective, scalable equipment including: a suite of High Performance Computing products from  Dell Data Center Solutions, stand-alone data center infrastructure from Emerson Network Power, a portfolio of Juniper Networks® switching, routing and security products, and more.

"It's a wonderful feeling when the stars align and the timing is a perfect match to the market's needs.  All of the early work for the past eight years positions Savtira to define the Cloud Commerce space," said Timothy Munro Roberts, CEO of Savtira.

About Savtira Corporation

Based in Tampa, Florida, Savtira is in the business of Digital Distribution with a Software-As-A-Service (SaaS) e-commerce platform that is a turnkey system for the distribution, marketing, merchandising, and sale of both digital media and physical goods in a single store and a single, unified shopping cart.  Savtira's solutions make it possible for businesses to distribute digital goods directly from a custom-tailored eStore, as well as the option to include physical goods.  Savtira is currently deploying 22 facilities around the world for its global platform and the next Carrier-Class "Entertainment Distribution Network" (EDN) to stream all digital media from the cloud with a feature set that eclipses anything on the market.  For more information on Savtira, visit: www.savtira.com.  Follow us on Twitter at: http://twitter.com/savtira

Savtira and Tab Commerce are registered trademarks.  All other product and service names mentioned are the trademarks of their respective companies.

SOURCE Savtira Corporation