Welcome!

Wireless Authors: Aria Blog, Tom Leyden, David Skok, Liz McMillan, Elizabeth White

News Feed Item

Mandalay Digital Well Positioned for Growth in 2013

-- $16 million in financing since new management

LOS ANGELES, Jan. 18, 2013 /PRNewswire/ -- Mandalay Digital Group, Inc. (OTC Markets: MNDL) today announced that the Company completed $16 million in financing during approximately the last twelve months, including a $1 million equity round completed on December 23, 2012, new capital commitments from current Mandalay Digital Board Members, and recent conversion of debt and accounts payable into the Company's Common Stock.  Substantially all new equity in this latest round was priced at $0.70 per share with 25% warrant coverage.  Additionally, the Company is exploring various strategic alternatives with respect to its Twistbox Entertainment subsidiary.

"We are well positioned to enter 2013.  This latest financing reflects both outside confidence and continuing Board commitment to the execution of Mandalay Digital's growth strategy," commented Peter Adderton, Chief Executive Officer of Mandalay Digital Group.  "We have strengthened our balance sheet which, together with new capital we intend to raise, will enable us to execute on our organic growth strategy and our aggressive roll-up of the mobile content distribution and mobile communications services marketplace.  We are excited regarding the completed Logia acquisition which is already accretive to earnings. The acquisition has a positive revenue momentum with its Digital Turbine Ignite product, global contract signed with Telefonica Digital and product launch with Cellcom in Israel.  Furthermore, we have applied for, and are diligently pursuing, a listing on a national securities exchange."

During approximately the last 12 months, Mandalay Digital accomplished the following:

  • The Company secured new long-term institutional shareholders who currently hold equity positions in Mandalay Digital Common Stock of 5% or greater.  Mandalay Digital management, Board members, 5% (or greater) stockholders and other insiders continue to invest in the company.  These investors have invested more than $25 million in the Company during approximately the past 5 years.
  • The Company completed the acquisition of Digital Turbine Group, LLC, the developer of Mandalay Digital's core technology platform that allows media companies, mobile carriers, and their OEM handset partners to take advantage of multiple mobile operating systems across multiple networks, while maintaining their own branding and personalized, one-to-one relationships with each end-user.
  • In September 2012, Mandalay Digital completed its acquisition of the global mobile assets of Logia Group, a leading mobile content development and management solutions provider. Logia's solutions are deployed in top-tier mobile operators and content providers worldwide and include white label app & media stores, in-app payment solutions, app-based value added services, device application management solutions, and mobile social music and TV offerings. Logia has close relationships with over 500 app developers and content vendors as well as pre-existing agreements with unique mobile platforms and service providers. Logia operates in more than 20 countries, providing services including in-app billing to more than 50 leading mobile carriers including Vodafone, Verizon, Telefonica, Turkcell, Deutsche Telekom among others reaching over 1.5 billion mobile subscribers. In addition, Logia has existing partnerships with industry leaders including Amdocs, Ericsson, and Alcatel-Lucent, among others.
  • The Company entered into an exclusivity agreement to explore the acquisition of mia, a leading mobile solutions provider based in Australia. mia is focused on delivering content and has extensive content licenses with major brands, a proprietary content management system, and billing integration with leading global operators such as Vodafone, SingTel, and Telstra among others.
  • The Company announced partnerships with major carriers around the globe. Mandalay Digital partnered with Telefonica Digital and Cellcom Israel to deploy its Digital Turbine Ignite mobile application management solution. The Company also partnered with Indonesia-based AXIS for its Digital Turbine IQ user experience and multimedia management interface.
  • The Company announced it will work with Intel Capital, Intel Corporation's global investment organization, on strategic opportunities. As part of the collaboration, Mandalay Digital signed a definitive agreement to acquire the music label assets of mobile entertainment studio skyrockit, an Intel Capital portfolio company. Intel Capital became a shareholder of Mandalay Digital as part of the agreement.
  • Throughout 2012, Mandalay Digital expanded its management team in several areas and its Board of Directors. In January 2012, upon completion of the acquisition of Digital Turbine LLC, Peter Adderton was named Chief Executive Officer and elected to the Board of Directors. In May 2012, Chris Rogers, Co-Founder of Nextel Communications, Inc. (now Sprint Nextel Corporation) and several of its predecessor companies, joined the Mandalay Digital Board of Directors, and John Bendheim, President of Bendheim Enterprises, a real estate investment holding company, joined the Mandalay Digital Group Advisory Board. In September 2012, the Company added mobile industry veteran Bill Stone as CEO of Digital Turbine, LLC.

"We are very excited about our prospects for 2013," stated Robert Ellin, Executive Chairman of Mandalay Digital Group. "We now have a solid base of carrier relationships established that position us to deploy our major product suites in development, and we expect to announce additional new carrier partners in the US and overseas this year. Our plan is to continue this aggressive roll-up strategy in 2013, primarily focusing on well-invested companies with strong carrier-centric mobile IP."

"The Mandalay Digital Board remains fully committed to the Mandalay Digital growth strategy as we start the new year," commented Peter Guber, Chairman of Mandalay Digital Group.  "The maturing mobile market is demanding seamless delivery of rich media.  The Company is positioned to meet that demand and seize the significant opportunities created by our mobile platform and superior user experience."

About Mandalay Digital Group

Mandalay Digital Group is at the convergence of internet media content and mobile communications. The company delivers a mobile services platform that works with mobile operators and third-party publishers to provide portal management, user interface, content development and billing technology. This proprietary platform enables the responsible distribution of mobile entertainment by the mobile operators.  Mandalay Digital is headquartered in Los Angeles and has offices in Europe and Israel to support global sales and marketing. For additional information, visit www.mandalaydigital.com.

Forward Looking Statement

Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements.  These factors include uncertainties as to ability to raise new capital on acceptable terms or at all, ability to manage international operations, ability to identify and consummate roll-up acquisitions targets, levels of orders, ability to record revenues, release schedules, finalization and market acceptance of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks including those described from time to time in Mandalay Digital Group's filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC), press releases and other communications.

Contacts
Brett Maas, Managing Partner
(646) 536-7331
Email: [email protected]

SOURCE Mandalay Digital Group, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...