Welcome!

News Feed Item

Brisio Innovations Enters into Letter of Intent with OakBranch Media Inc.

Plans to aggressively grow OakBranch's alternative mobile app store

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.

Transaction Structure

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."

(1) http://www.mobyaffiliates.com/blog/a-list-of-alternative-app-stores-for-distributing-your-app-or-mobile-game/

(2) http://www.onepf.org/appstores/

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

Contacts:
Brisio Innovations Inc.
Paul Andreola
President, CEO and Director
(604) 644-0072
www.brisio.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...