Xumanii (DBA Imerjn) (OTCQB:XUII), announced that it has completed
the acquisition of Rocky Mountain Tracking ("RMT"), an established
provider of GPS tracking solutions in North America. The Company
has signed a definitive agreement to acquire RMT Leasing Inc. This
transaction is not subject to any further action and is effective
immediately.
For the year ending December 31, 2013, RMT generated revenues of
$1.4 million and pro forma EBITDA of approximately $200,000.
Xumanii acquired RMT for $3.1 million consisting of a combination
of cash, a note and preferred stock (this issue of preferred stock
will be non diluting due to the preferred stock being not
convertible to common and nonvoting).
RMT has been a leading provider of GPS tracking solutions since
2003. It offers several GPS trackers and GPS tracking systems that
are ideal for personal or business use. RMT's software is
proprietary and enables users to track the movement of virtually
anything using superior tracking devices.
The acquisition of RMT will enable Imerjn to accelerate its
business plan and provides Imerjn with additional proprietary
products, additional technology expertise and many new customers
that have already adopted the use of tracking technology.
Imerjn CEO, Adam Radly, said, "RMT is a perfect fit with mobile
asset tracking apps that we have been developing internally for
several months. The RMT solution will be integrated into our own
tracking solution over the course of 2014 and will enable us to
offer a much more powerful solution that will enable us to
differentiate ourselves from competitors. We anticipate releasing
the new asset tracking apps before the end of 2014."
According to technology marketing intelligence firm ABI
Research, personal GPS tracking devices and applications are
expected to grow at least 40 percent per year and the combined
market for personal GPS tracking devices and their applications is
expected to exceed one billion dollars by the year 2017. A National
Defense Magazine study predicts that by the year of 2014 one
million personal GPS tracking devices will be in use and ABI
Research expects that 2.5 million units will be in use by 2017.
Wearable personal GPS tracking devices, like watches, shoes, and
bras, are anticipated to grow as mobile technology opens up new
channels for people to remotely monitor family members or others
who need to be tracked.
Significant growth is expected in usage by the elderly, remote
workers, and healthcare. Insurance companies will continue to
encourage the use of dedicated and approved personal GPS tracking
devices to decrease liability. Other markets that will be using GPS
personal trackers in increasing numbers include pet, offender
tracking, and luggage tracking. Families are expected to use
personal trackers more in areas of tracking toddlers, pets, and
parents who have Alzheimer's or dementia.
About Imerjn
Imerjn (XUII), formerly known as Xumanii International Holdings
Corp, is a development stage company that develops and sells mobile
software and hardware solutions. For more information please visit
the company website at: http://www.imerjn.com. Contact: Adam Radly,
info@imerjn.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: Except for historical
information, the forward-looking matters discussed in this news
release are subject to certain risks and uncertainties which could
cause the Company's actual results and financial condition to
differ materially from those anticipated by the forward-looking
statements including, but not limited to, the Company's liquidity
and the ability to obtain financing, the timing of regulatory
approvals, uncertainties related to corporate partners or
third-parties, product liability, the dependence on third parties
for manufacturing and marketing, patent risk, copyright risk,
competition, and the early stage of products being marketed or
under development, as well as other risks indicated from time to
time in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to update or
supplement forward-looking statements that become untrue because of
subsequent events.
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