Asian Mobile Marketing Leader Forms Joint Venture
Poster: SySAdmin
Posted on May 22, 2012 at 9:14:01 AM
Asian Mobile Marketing Leader Forms Joint Venture
Global MobileTech to Launch New Ad Funded Location-Based Community Portal
SPOKANE, Wash., May 22, 2012 /PRNewswire/ -- Global MobileTech, Inc. (OTCBB: GLMB), a leading provider of location based mobile marketing and user community based platforms, today announced that it will take a 30 percent stake in a new joint venture company, MaxCents Sdn Bhd. MaxCents is undertaking the development of an ad funded location based mobile and online community portal in West Malaysia.
MaxCents, organized around its "more savings, more to share," theme will combine discounted offerings from its advertisers along with the opportunity for its community members to contribute to charities of their own choosing.
Global MobileTech's technology platform combines mobile advertising and mobile communications services and powers mobile communities with more than 850,000 users in Southeast Asia, Hong Kong and China. The company's platform is currently serving approximately 12.5 million mobile ads monthly. Global MobileTech's principal business is to license its patented technology and to provide technical and administrative support to channel partners and private label partners.
Global MobileTech's technology is used to create mobile communities of members who participate in permission-based advertising networks and who, in return, receive credits toward free local and international cellular telephone calls and text messaging. The Company has integrated its ability to serve mobile advertising and ability to seamlessly provide communications services through third party cellular and VoIP (Voice over Internet Protocol) operators. MaxCents members will also earn reward points when they make purchases through our shopping portal.
"Global MobileTech views this joint venture as an important step in the strengthening of its mobile marketing product offerings," said Mohd Aris Bernawi, the Company's Chief Executive Officer. "The joint venture will initially target approximately 3.0 million Malaysians who are involved in the country's oil palm sector. Our technology has proven that it is an ideal solution for building mobile marketing based on the common interests of a community."
Global MobileTech's interest in the joint venture will be held by its wholly owned subsidiary Info-Accent Sdn Bhd, which will provide the platform, technical support and will develop and maintain the MaxCents online platform. The other joint venture partners are First Asset Holdings, a Hong Kong based company that specializes in the sales and marketing of IT and Internet-based products and services, which will provide sales and marketing support, and Ridzuan Mohd Jusoh, a former FELDA senior executive. FELDA or Federal Land Development Authority is the world's largest community development government agency, principally producing the country's cash crops of rubber and palm oil. Mr. Ridzuan will be responsible for the day-to-day operations of the joint venture company.
"We view the agricultural community as an ideal population to be served by the joint venture," explained Bernawi. "Although quite affluent, the small plantation owners are spread through rural areas that are not well-served by other alternative communications technology. There is a also a strong sense of identity and community that we believe will give the joint venture's advertising partners a superior opportunity to develop successful promotional campaigns using our platform."
ABOUT GLOBAL MOBILETECH, INC.
Global MobileTech provides a proprietary technology platform used to deliver mobile advertising to users participating in a rewards program. The rewards program allows users to earn rewards points that may be used for free long distance and international calls and other incentives in return for their participation in the program. Global MobileTech provides its patented technology to channel and private label partners and operates the MobiCAST and MobiREWARDS programs. Its principal user base is located in Malaysia and Hong Kong. In addition, Global MobileTech operates an alternative energy segment providing biomass energy consulting services in South East Asia.
Safe Harbor Statement:
Information contained in this release includes forward-looking statements and information that is based on beliefs of, and information currently available to, management, as well as estimates and assumptions made by management. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "is expected", "intends", "may", "will", "should", "anticipates", "plans" or the negative thereof. These forward looking statements often include forecasts and projections for future revenue and/or profits and are subject to revision and are not based on audited results. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to vary materially from historical results or from any future results expressed or implied in such forward-looking statements. Global MobileTech, Inc. does not undertake to update, revise or correct any forward-looking statements. Investors are cautioned that current results are not necessarily indicative of future results, and actual results may differ from projected amounts. For more complete information concerning factors that could affect the Company's results, reference is made to the Company's registration statements, reports and other documents filed with the Securities and Exchange Commission. Investors should carefully consider the preceding information before making an investment in the common stock of the Company.
SOURCE Global MobileTech, Inc.
Global MobileTech, Inc.
CONTACT: Jay McDaniel, +1-201-403-8196, for Global MobileTech, Inc.
Global MobileTech to Launch New Ad Funded Location-Based Community Portal
SPOKANE, Wash., May 22, 2012 /PRNewswire/ -- Global MobileTech, Inc. (OTCBB: GLMB), a leading provider of location based mobile marketing and user community based platforms, today announced that it will take a 30 percent stake in a new joint venture company, MaxCents Sdn Bhd. MaxCents is undertaking the development of an ad funded location based mobile and online community portal in West Malaysia.
MaxCents, organized around its "more savings, more to share," theme will combine discounted offerings from its advertisers along with the opportunity for its community members to contribute to charities of their own choosing.
Global MobileTech's technology platform combines mobile advertising and mobile communications services and powers mobile communities with more than 850,000 users in Southeast Asia, Hong Kong and China. The company's platform is currently serving approximately 12.5 million mobile ads monthly. Global MobileTech's principal business is to license its patented technology and to provide technical and administrative support to channel partners and private label partners.
Global MobileTech's technology is used to create mobile communities of members who participate in permission-based advertising networks and who, in return, receive credits toward free local and international cellular telephone calls and text messaging. The Company has integrated its ability to serve mobile advertising and ability to seamlessly provide communications services through third party cellular and VoIP (Voice over Internet Protocol) operators. MaxCents members will also earn reward points when they make purchases through our shopping portal.
"Global MobileTech views this joint venture as an important step in the strengthening of its mobile marketing product offerings," said Mohd Aris Bernawi, the Company's Chief Executive Officer. "The joint venture will initially target approximately 3.0 million Malaysians who are involved in the country's oil palm sector. Our technology has proven that it is an ideal solution for building mobile marketing based on the common interests of a community."
Global MobileTech's interest in the joint venture will be held by its wholly owned subsidiary Info-Accent Sdn Bhd, which will provide the platform, technical support and will develop and maintain the MaxCents online platform. The other joint venture partners are First Asset Holdings, a Hong Kong based company that specializes in the sales and marketing of IT and Internet-based products and services, which will provide sales and marketing support, and Ridzuan Mohd Jusoh, a former FELDA senior executive. FELDA or Federal Land Development Authority is the world's largest community development government agency, principally producing the country's cash crops of rubber and palm oil. Mr. Ridzuan will be responsible for the day-to-day operations of the joint venture company.
"We view the agricultural community as an ideal population to be served by the joint venture," explained Bernawi. "Although quite affluent, the small plantation owners are spread through rural areas that are not well-served by other alternative communications technology. There is a also a strong sense of identity and community that we believe will give the joint venture's advertising partners a superior opportunity to develop successful promotional campaigns using our platform."
ABOUT GLOBAL MOBILETECH, INC.
Global MobileTech provides a proprietary technology platform used to deliver mobile advertising to users participating in a rewards program. The rewards program allows users to earn rewards points that may be used for free long distance and international calls and other incentives in return for their participation in the program. Global MobileTech provides its patented technology to channel and private label partners and operates the MobiCAST and MobiREWARDS programs. Its principal user base is located in Malaysia and Hong Kong. In addition, Global MobileTech operates an alternative energy segment providing biomass energy consulting services in South East Asia.
Safe Harbor Statement:
Information contained in this release includes forward-looking statements and information that is based on beliefs of, and information currently available to, management, as well as estimates and assumptions made by management. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "is expected", "intends", "may", "will", "should", "anticipates", "plans" or the negative thereof. These forward looking statements often include forecasts and projections for future revenue and/or profits and are subject to revision and are not based on audited results. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to vary materially from historical results or from any future results expressed or implied in such forward-looking statements. Global MobileTech, Inc. does not undertake to update, revise or correct any forward-looking statements. Investors are cautioned that current results are not necessarily indicative of future results, and actual results may differ from projected amounts. For more complete information concerning factors that could affect the Company's results, reference is made to the Company's registration statements, reports and other documents filed with the Securities and Exchange Commission. Investors should carefully consider the preceding information before making an investment in the common stock of the Company.
SOURCE Global MobileTech, Inc.
Global MobileTech, Inc.
CONTACT: Jay McDaniel, +1-201-403-8196, for Global MobileTech, Inc.