|By Marketwired .||
|March 18, 2014 01:25 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/18/14 -- Brisio Innovations Inc. (CSE: BZI) ("Brisio" or the "Company"), announced today that it has entered into a non-binding Letter of Intent dated March 14, 2014 (the "LOI") to acquire up to 100% of the issued and outstanding securities of OakBranch Media Inc. ("OakBranch") and its underlying assets (the "Transaction"). OakBranch is an integrated media company with its main assets being the Good e-Reader website, a leading website specializing in e-Reader, eBook and Digital Publishing News, which has over 230,000 unique visitors per month, and the Good e-Reader App Store, which with over 35,000 apps, 420,000 unique visitors and 7 million page views per month, is the largest independent Android and Blackberry alternative app store in Canada. OakBranch also operates its own video studio and YouTube channel, which receives over 320,000 views per month.
Under the terms of the LOI, Brisio will undertake the Transaction on the following terms:
a. in consideration for aggregate cash payments of $130,000, to be paid by Brisio to OakBranch upon the achievement of certain milestones by OakBranch to be determined by Brisio and specified in the definitive agreement to be entered into between Brisio and OakBranch with respect to the Transaction (the "Definitive Agreement"), Brisio will acquire securities of OakBranch, of a class to be determined and specified in the Definitive Agreement, sufficient to give Brisio a 30% voting and equity interest in OakBranch; b. OakBranch will grant Brisio an option, that will expire one year from the date of closing of the Definitive Agreement (the "Closing"), to acquire additional securities of OakBranch, of a class to be determined and specified in the Definitive Agreement, sufficient to give Brisio an additional 19.9% voting and equity interest in OakBranch, bringing Brisio's total interest in OakBranch to 49.9%, exercisable upon: (i) the issuance by Brisio to OakBranch of 250,000 common shares of Brisio (each, a "Brisio Share"), and (ii) the payment of $75,000 by Brisio to OakBranch; and c. OakBranch will cause each of the shareholders of OakBranch (collectively, the "OakBranch Shareholders") to grant Brisio a right of first refusal to acquire the remaining 50.1% of the outstanding voting and equity interests of OakBranch from time to time from the OakBranch Shareholders on terms to be specified in the Definitive Agreement.
Completion of the Transaction is subject to a number of conditions, which will be further specified in the Definitive Agreement, including satisfactory completion of due diligence by Brisio on OakBranch and receipt of the approval of the Canadian Securities Exchange (the "CSE") for the Transaction.
Paul Andreola, President and CEO of Brisio, stated, "This Transaction denotes another significant opportunity for Brisio to grow its scope of business by moving into the highly valued app store space. OakBranch has substantial reach and a loyal and growing following, which we believe can be highly leveraged and of significant value to Brisio in the future, and can provide us with the opportunity to own a major stake in an established player in the lucrative app store market".
There has been a dramatic rise in the cost per install for mobile applications developers over the last several years. This rising cost has increased the demand for new mobile app discovery systems. This demand is highlighted by some of the industry transactions of the last year. In February 2014, Sungy Mobile (GOMO: Nasdaq) acquired independent appstore, Getjar, and in July 2013, Baidu purchased independent appstore, 91 Wireless, for $1.9 billion. Based on information compiled by Moby Affiliates (1) over 2.5 billion mobile apps are downloaded per month from alternative app stores around the world. According to One Platform Foundation,(2) "Submitting your app to alternative appstores will increase expected downloads for your app by more than 200% in reference to Google Play only."
Michael Kozlowski, CEO of OakBranch, stated "We are excited to work with Brisio. There is a great deal of synergy between our two companies and their assistance will help greatly in allowing OakBranch and Good e-Reader to execute on a number of exciting opportunities."
About Brisio Innovations
Brisio is focused on the acquisition, development and marketing of software applications for mobile computing devices, such as smart phones, tablets, and wearable computers.
About OakBranch Media
Established in 2008, OakBranch owns and operates the Good e-Reader website and webstore and the Good e-Reader appstore. Good e-Reader is a leading provider of E-Book, E-Reader, Tablet and Slate PC news. With tens of thousands of mobile apps available, the Good e-Reader appstore is the largest of its kind in Canada. Visit Good e-Reader at http://goodereader.com. Download the Good e-Reader appstore app at http://apps.goodereader.com/android-apps/android-app-stores/?did=171
On behalf of the Board,
Paul Andreola, President, CEO and Director
For more information on Brisio visit http://brisio.com/
Find Brisio Innovations on the CSE http://www.cnsx.ca/CNSX/Securities/Diversified-Industries/Brisio-Innovations-Inc.aspx
Like Brisio on Facebook https://www.facebook.com/brisio.innovations
Follow Brisio on Twitter https://twitter.com/BrisioApps
Connect with Brisio on LinkedIn http://www.linkedin.com/company/3582550?trk=tyah&trkInfo=tas%3Abrisio%2Cidx%3A1-1-1
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential positive effects that the Transaction may have on the business of the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, and include discussion of: (i) the proposed terms of the Transaction; (ii) the potential opportunities and value Brisio may derive from the acquisition of an interest in OakBranch; and (iii) the potential synergies between the businesses of OakBranch and Brisio. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements, including: (i) that the Company and OakBranch may not be able to agree on terms with respect to the Definitive Agreement; (ii) that the Company may not be satisfied with its due diligence review of OakBranch; (iii) that the Company may not receive the necessary approvals to consummate the Transaction, including the approval of the CSE; and (iv) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws. Additional information about the Company is available in the Company's public
Brisio Innovations Inc.
President, CEO and Director
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Oct. 23, 2016 10:00 AM EDT Reads: 3,991
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 23, 2016 09:45 AM EDT Reads: 1,002
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
Oct. 23, 2016 09:45 AM EDT Reads: 1,870
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 23, 2016 09:45 AM EDT Reads: 775
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 23, 2016 09:45 AM EDT Reads: 2,471
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 23, 2016 09:30 AM EDT Reads: 3,811
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Oct. 23, 2016 09:30 AM EDT Reads: 2,118
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 23, 2016 09:15 AM EDT Reads: 2,061
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 23, 2016 09:00 AM EDT Reads: 4,453
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Oct. 23, 2016 08:30 AM EDT Reads: 1,335
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 23, 2016 08:15 AM EDT Reads: 4,413
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Oct. 23, 2016 08:00 AM EDT Reads: 5,675
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 23, 2016 08:00 AM EDT Reads: 8,323
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Oct. 23, 2016 07:00 AM EDT Reads: 4,098
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Oct. 23, 2016 06:30 AM EDT Reads: 4,741