Xumanii (DBA Imerjn) (OTCQB:XUII), announced that it has signed a
Letter of Intent to acquire NTIH, an established provider of VOIP
and mobile communications services to emerging markets. NTIH has
historic revenues exceeding $20 million.
NTIH has operations in the United States and China and serves
emerging markets in Asia, South America and the Middle East. Imerjn
CEO, Adam Radly, said, "NTIH gives us an exposure to emerging
markets through the one market segment we know will grow
significantly in all emerging markets - wireless mobile
technology."
Mr. Radly also said, "The acquisition of NTIH also provides us
with the opportunity to become a virtual mobile network operator -
by utilizing the mobile infrastructure of other mobile carriers
- in certain emerging markets while these markets are still at
an early stage of development. There is also an opportunity to
establish retail GSM networks and expand existing SMS
services."
The International Data Corporation is forecasting that emerging
market demand will dominate demand for smart phones. There was an
almost equal geographic distribution between developed markets and
emerging markets (with 48% of mobile shipments going to developed
countries versus 52% going to emerging markets) in 2011 but this
changed in 2012 when 60% of total smart phone shipments went to
emerging markets. This phenomenon is expected to continue as
forecasts from IDC expect that 70% of all smart phones shipped by
2017 will be consumed by emerging markets.
Imerjn will also develop strategies to deliver versions of its
recently announced Imerjn branded tablet computer into these
markets.
Imerjn recently announced its entry into the tablet computer
market with an Imerjn branded tablet and also announced the
acquisition of an issued patent relating to technology that enables
mobile transaction processing. Imerjn CEO, Adam Radly, said, "The
acquisition of NTIH represents a significant milestone in our
strategy to build an integrated mobile technology company."
The Company is undertaking a capital raising with the objective
of raising between two and three million dollars in order to
acquire a control position in NTIH and have sufficient funds for
expansion. There will be no stock issued to the sellers of NTIH.
The Company anticipates closing the transaction in January, 2014
and will provide updated information periodically.
About Imerjn
Imerjn (XUII), formerly known as Xumanii International Holdings
Corp is 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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