Welcome!

AJAX & REA Authors: Liz McMillan, Sebastian Kruk, RealWire News Distribution, Harald Zeitlhofer

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.

Cloud Expo Latest Stories
14th International Cloud Expo, held on June 10–12, 2014 at the Javits Center in New York City, featured three content-packed days with a rich array of sessions about the business and technical value of cloud computing, Internet of Things, Big Data, and DevOps led by exceptional speakers from every sector of the IT ecosystem. The Cloud Expo series is the fastest-growing Enterprise IT event in the past 10 years, devoted to every aspect of delivering massively scalable enterprise IT as a service.
Hardware will never be more valuable than on the day it hits your loading dock. Each day new servers are not deployed to production the business is losing money. While Moore’s Law is typically cited to explain the exponential density growth of chips, a critical consequence of this is rapid depreciation of servers. The hardware for clustered systems (e.g., Hadoop, OpenStack) tends to be significant capital expenses. In his session at 15th Cloud Expo, Mason Katz, CTO and co-founder of StackIQ, to discuss how infrastructure teams should be aware of the capitalization and depreciation model of these expenses to fully understand when and where automation is critical.
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects – scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e., the largest single medical system in the United States.
In his session at 15th Cloud Expo, Mark Hinkle, Senior Director, Open Source Solutions at Citrix Systems Inc., will provide overview of the open source software that can be used to deploy and manage a cloud computing environment. He will include information on storage, networking(e.g., OpenDaylight) and compute virtualization (Xen, KVM, LXC) and the orchestration(Apache CloudStack, OpenStack) of the three to build their own cloud services. Speaker Bio: Mark Hinkle is the Senior Director, Open Source Solutions, at Citrix Systems Inc. He joined Citrix as a result of their July 2011 acquisition of Cloud.com where he was their Vice President of Community. He is currently responsible for Citrix open source efforts around the open source cloud computing platform, Apache CloudStack and the Xen Hypervisor. Previously he was the VP of Community at Zenoss Inc., a producer of the open source application, server, and network management software, where he grew the Zenoss Core project to over 10...
Most of today’s hardware manufacturers are building servers with at least one SATA Port, but not every systems engineer utilizes them. This is considered a loss in the game of maximizing potential storage space in a fixed unit. The SATADOM Series was created by Innodisk as a high-performance, small form factor boot drive with low power consumption to be plugged into the unused SATA port on your server board as an alternative to hard drive or USB boot-up. Built for 1U systems, this powerful device is smaller than a one dollar coin, and frees up otherwise dead space on your motherboard. To meet the requirements of tomorrow’s cloud hardware, Innodisk invested internal R&D resources to develop our SATA III series of products. The SATA III SATADOM boasts 500/180MBs R/W Speeds respectively, or double R/W Speed of SATA II products.
As more applications and services move "to the cloud" (public or on-premise) cloud environments are increasingly adopting and building out traditional enterprise features. This in turn is enabling and encouraging cloud adoption from enterprise users. In many ways the definition is blurring as features like continuous operation, geo-distribution or on-demand capacity become the norm. NuoDB is involved in both building enterprise software and using enterprise cloud capabilities. In his session at 15th Cloud Expo, Seth Proctor, CTO at NuoDB, Inc., will discuss the experiences from building, deploying and using enterprise services and suggest some ways to approach moving enterprise applications into a cloud model.
Until recently, many organizations required specialized departments to perform mapping and geospatial analysis, and they used Esri on-premise solutions for that work. In his session at 15th Cloud Expo, Dave Peters, author of the Esri Press book Building a GIS, System Architecture Design Strategies for Managers, will discuss how Esri has successfully included the cloud as a fully integrated SaaS expansion of the ArcGIS mapping platform. Organizations that have incorporated Esri cloud-based applications and content within their business models are reaping huge benefits by directly leveraging cloud-based mapping and analysis capabilities within their existing enterprise investments. The ArcGIS mapping platform includes cloud-based content management and information resources to more widely, efficiently, and affordably deliver real-time actionable information and analysis capabilities to your organization.
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity. In his session at Internet of @ThingsExpo, Mac Devine, Distinguished Engineer at IBM, will discuss bringing these three elements together via Systems of Discover.
Cloud and Big Data present unique dilemmas: embracing the benefits of these new technologies while maintaining the security of your organization’s assets. When an outside party owns, controls and manages your infrastructure and computational resources, how can you be assured that sensitive data remains private and secure? How do you best protect data in mixed use cloud and big data infrastructure sets? Can you still satisfy the full range of reporting, compliance and regulatory requirements? In his session at 15th Cloud Expo, Derek Tumulak, Vice President of Product Management at Vormetric, will discuss how to address data security in cloud and Big Data environments so that your organization isn’t next week’s data breach headline.
The cloud is everywhere and growing, and with it SaaS has become an accepted means for software delivery. SaaS is more than just a technology, it is a thriving business model estimated to be worth around $53 billion dollars by 2015, according to IDC. The question is – how do you build and scale a profitable SaaS business model? In his session at 15th Cloud Expo, Jason Cumberland, Vice President, SaaS Solutions at Dimension Data, will give the audience an understanding of common mistakes businesses make when transitioning to SaaS; how to avoid them; and how to build a profitable and scalable SaaS business.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
SYS-CON Events announced today that Solgenia, the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between personal and professional social, mobile and cloud user experiences, our solutions help large and medium-sized organizations dramatically improve productivity, reduce collaboration costs, and increase the overall enterprise value by bringing collaboration and infrastructure solutions to the cloud.
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, will explore the synergies in these two approaches, with practical tips, techniques, research data, war stories, case studies, and recommendations.
Enterprises require the performance, agility and on-demand access of the public cloud, and the management, security and compatibility of the private cloud. The solution? In his session at 15th Cloud Expo, Simone Brunozzi, VP and Chief Technologist(global role) for VMware, will explore how to unlock the power of the hybrid cloud and the steps to get there. He'll discuss the challenges that conventional approaches to both public and private cloud computing, and outline the tough decisions that must be made to accelerate the journey to the hybrid cloud. As part of the transition, an Infrastructure-as-a-Service model will enable enterprise IT to build services beyond their data center while owning what gets moved, when to move it, and for how long. IT can then move forward on what matters most to the organization that it supports – availability, agility and efficiency.
Every healthy ecosystem is diverse. This is especially true in cloud ecosystems, where portability and interoperability are more important than old enterprise models of proprietary ownership. In his session at 15th Cloud Expo, Mark Baker, Server Product Manager at Canonical/Ubuntu, will discuss how single vendors used to take the lead in creating and delivering technology, but in a cloud economy, where users want tools of their preference, when and where they need them, it makes no sense.