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SOURCE Ubiquity Broadcasting Corporation
IRVINE, Calif., June 26, 2014 /PRNewswire/ -- Ubiquity, Inc. (OTCQB: UBIQ), creators of a new hub for the digital lifestyle, today announced the completion of their acquisition of the assets of Monkeybars Inc., a music platform that combines cloud content storage, sharing applications, and social networking search technology. The acquisition was a common stock transaction valued at $2,250,000.
"Monkeybars created a socially driven, do-it-yourself platform that financially rewards artists and fans alike for doing what they do best – distributing and recommending content online," said Monkeybars CEO Robert Hayden. "We're excited to see the expansion of the Monkeybars platform with Ubiquity's deep base of intellectual property and innovative Sprocket user interface. Ubiquity makes access to all content from any device simple and consistent."
Monkeybars' technology is being incorporated into Ubiquity's extensive intellectual property portfolio that allows people, companies and devices to search, find, insert, enhance, create and use all forms of content on any computing device. Ubiquity's Sprocket user interface and operating system works in tandem with Ubiquity's other key IP, including video compression, data analytics and immersive advertising platforms.
"We created Sprocket to provide a customizable user interface that can be tailored to every individual, with the understanding that digital content is being shared more freely and effortlessly across social networks every day," said Chris Carmichael, CEO of Ubiquity. "Content producers are continuously looking to increase social engagement while monetizing their content. Monkeybars' technology creates a direct social channel between music artists and their fans, rewarding these fans for their engagement. The combination of this technology with our existing IP is one that we think can offer an even more compelling value proposition for customers and partners."
About Ubiquity Inc.
Based in Irvine, CA, Ubiquity is a vertically integrated, technology-focused media company. Ubiquity is focused in five specific areas with a robust portfolio of patents and intellectual property. First, the Company has developed an intuitive user interface making access to all content from any device in a simple, consistent format. Second, Ubiquity enables the search and identification of any object and image in all video and digital media. Third, it has developed a platform for mobile transaction including the integration of payments, money transfers, coupons and gifts. Ubiquity has also developed an industry-leading, intuitive, immersive consumer experience for all web-based activity. Finally, the company allows for the personalization of all content, whether public or private, in a unique accessible way.
Through Ubiquity Labs we are leveraging an extensive portfolio of intellectual property spanning Web 3.0, immersive advertising, video compression, content distribution, eCommerce, and mobile applications to support the commercialization of new technologies. In addition, we intend to pursue strategic licensing opportunities. Through Ubiquity Studios, we provide we engage in the commercial production, distribution and exploitation of entertainment products including but not limited to television, commercials and film. For more information, visit www.ubiquitycorp.com.
This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the failure of Ubiquity to close on the contemplated acquisition of Monkey Bars, the failure of the business strategy, the integrity of the Company's patents and proprietary intellectual property and competition. The Company cautions that the foregoing list of risk factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events, including the risk factors set out in the Company's 10K for the year ended December 31, 2013. See the sections entitled "Risk Factors" in Ubiquity's quarterly and annual reports as filed by Ubiquity from time to time with the Securities and Exchange Commission. The Company has assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
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