LAS VEGAS, Dec. 12, 2013 (GLOBE NEWSWIRE) -- 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.
