Satellite Security Corporation (OTCBB:SLTS) Completes Acquisition of AIMMS, Inc....
* Reuters is not responsible for the content in this press release.
Satellite Security Corporation (OTCBB:SLTS) Completes Acquisition of AIMMS, Inc. and Changes Name to MOBICOM; Appoints Michael Levinsohn as CEO
SAN DIEGO--(Business Wire)--Satellite Security Corporation (OTCBB:SLTS.OB) announced today
that it has completed its acquisition of 100% of the outstanding
shares of Korean based Advanced Interactive Mobile Marketing System,
("AIMMS"), a leader in marketing communications and interactive mobile
marketing technology. Satellite Security Corporation exchanged 50
million newly issued shares of its stock at a ratio 26.85 shares for
every 1 share of AIMMS. After the exchange there are 52,222,034 shares
of SLTS common stock outstanding.
Satellite Security Corporations is changing its name to MOBICOM
and has appointed Michael Levinsohn as its Chief Executive Officer.
"We have successfully completed the transition from GPS tracking to
advanced digital marketing in the mobile phone arena," said outgoing
CEO, Zirk Engelbrecht. "Michael Levinsohn is an expert in digital
interactive marketing, and we are excited to have his leadership,"
added Mr. Engelbrecht.
Mobile marketing has become the most advanced method for promoting
specific products and services in Asia. eMarketer expects worldwide
mobile advertising spending to grow to over $16 billion by 2011. "With
South Korea leading the world in mobile advertising technology
according to ABI Research, MOBICOM intends to expand its lead in this
space across Asia, Europe and the United States," said Michael
Levinsohn, Chief Executive Officer. "Mobile operators like SK Telecom,
KTF and LG believe that area-based advertising messages will generate
large revenue streams and MOBICOM is capitalizing on this trend," he
added.
Michael Levinsohn is currently the Chief Executive Officer of 121
Marketing (Pty) Ltd, a leading South African CRM and loyalty program
solutions provider. His company's clients include some of the top
brand owners in the leisure, lifestyle and entertainment industry. "I
look forward to moving to the United States and to taking the reins at
MOBICOM," said Levinsohn, who intends to relocate to Los Angeles
subject to approval of his O visa application which is currently being
petitioned on his behalf by MOBICOM. Prior to starting 121 Marketing
(Pty) Ltd, Levinsohn was a co-founder of the company which owned the
Infinity loyalty program in South Africa. Infinity was the largest
privately owned program in the country and developed leading edge
technology between 1999 and 2006. Mr. Levinsohn also has extensive
experience at running publicly held corporations having served as CEO
of three quoted companies on the Johannesburg Stock Exchange over a
twenty year period.
MOBICOM owns and operates a turnkey solution for capturing mobile
customer information, loyalty program membership, CRM management,
campaign planning and execution, result analysis and enhanced data
mining. The AIMMS platform enables corporations to access their
customers' cell phones with specific targeted advertising that is both
local and relevant. All campaigns are tracked and provide user
information via powerful multi-dimensional database analysis reporting
tools.
MOBICOM's AIMMS division recently signed an agreement with SK
Telecom, one of the world's largest cell phone service providers, to
provide automated interactive marketing technology to SK Telecom's 20
million cell phone customers. SK Telecom has trailing 12 months
revenues of 10.51 trillion Korean Won (US$10.8 billion), and net
income of 1.61 trillion Korean Won (US$1.7 billion),
quarter-to-quarter revenue growth over the past two quarters of 2.8%
and 22.4% respectively.
AIMMS also recently entered into an agreement with KTF, the second
largest Korean cell phone service provider to provide IMMS
(Interactive Mobile Marketing System) services.
AIMMS is also preparing to launch its Franchise Membership Service
targeting 20,000 retail stores to enroll their customers in a mobile
rewards program. Its Mobile Membership Technology collects customer
data, provides discounts and rewards and interactively advertises
store promotions using SMS and MMS cellular technology. The Mobile
Membership Server provides customer scoring, sales by customer,
customer preferences, response ratios, customer value and many other
vital statistics.
The company has provided database marketing, membership rewards
systems, CRM systems and mobile marketing to Dongbu Group, LG, CJ Corp
(Jeil), Johnson and Johnson, Procter and Gamble, Microsoft, LG
Telecom, Citibank, HSBC, American Express, Shinhan Life, Kookmin Card,
Miliore, Missa, LG Card, Webtour, Pizza Hut and several others.
About MOBICOM
MOBICOM is capitalizing on the fast growing cellular telephone
industry. According to available industry data, there are
approximately 3 billion cell phones in use worldwide and 1 billion
Internet connections. With the convergence of technologies and the
ability to target individual subscribers, transaction based
applications are expected to grow exponentially for the foreseeable
future. Mobile network operators worldwide have identified data as a
high growth area and in particular user generated applications.
Advanced Interactive Mobile Marketing System (AIMMS),
www.aimms.co.kr, is a global leader in the provision of mobile
marketing solutions for both mobile phone networks and brand owners
who wish to target customers in a meaningful and measurable way. The
acquisition of AIMM enables MOBICOM to acquire a strategic foothold in
the rapidly growing and highly lucrative Asian mobile phone market.
MOBICOM intends cross selling the services of AIMMS to other customers
both in the United States and other mobile phone markets where early
adoption is prevalent. MOBICOM plans to establish an office in the
United Sates to develop the market for AIMMS products as well as to
identify other growth opportunities.
FORWARD LOOKING STATEMENT: This press release contains
forward-looking statements, including expected industry patterns and
other financial and business results that involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance or achievements to differ
materially from results expressed or implied by this press release.
Such risk factors include, among others: whether MOBICOM (formerly
Satellite Security Corporation) can successfully execute its operating
plan; the sustainability of recent growth rates in the cell phone
market; the positioning of AIMMS' products in the market; ability to
integrate acquired companies and technology; ability to retain key
employees; ability to successfully combine product offerings and
customer acceptance of combined products; general market conditions,
fluctuations in currency exchange rates, changes to operating systems
and product strategy by vendors of operating systems; and whether
AIMMS can successfully develop new products and the degree to which
these gain market acceptance. Actual results may differ materially
from those contained in the forward-looking statements in this press
release. MOBICOM and AIMMS do not undertake any obligation to update
or revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future operating
results.
Corporate Inquiries
Trish Malone, 619-977-1515
trish.malone@yahoo.com
Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters