Key Developments: Bitzio Inc (BTZO.PK)
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16 May 2013
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36,890
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Latest Key Developments (Source: Significant Developments)
Bitzio Inc Announces Resignation Of Chairman-Form 8-K
Bitzio Inc reported in its Form 8-K that effective April 1, 2013, William Schonbrun resigned as Chairman of the Board of Directors. Full Article
Bitzio Inc Announces Acquisition Of Grandstand Sports And Memorabilia
Bitzio Inc announced that it has entered into a letter of intent to acquire New York City-based Grandstand Sports and Memorabilia. Founded in 1999, Grandstand is one of the providers of memorabilia in the sports and entertainment industry. Bitzio will acquire Grandstand for a combination of cash, a seller note and restricted shares of Bitzio common stock, as well as certain performance-based cash earn-outs. The closing of the acquisition is contingent upon Bitzio securing certain financing arrangements and completing a capital restructuring, including converting certain of its outstanding securities and obligations. The acquisition is expected to close during the second quarter of 2013. Core Equity Group LLC, through Merriman Capital, Inc. member FINRA & SIPC, is acting as the lead financial advisor to Bitzio in the financing transaction, and as financial advisor to Grandstand Sports & Memorabilia with respect to the acquisition. Financial terms were not disclosed. Full Article
Bitzio Inc Announces Partnership With IMX For Mobile Game Rights
Bitzio Inc announced that it has partnered with, IMX, the joint-venture between EBX Group and IMG Worldwide, through a non-exclusive mobile game rights agreement. Headquartered in Rio de Janeiro, IMX, through IMX Talent, represents several international sports and celebrity brands. Bitzio and IMX will jointly develop a mobile game based on IMX content. Full Article
Bitzio Inc Announces Management Change-Form 8-K
Bitzio Inc reported in its Form 8-K that effective September 12, 2012, William Schonbrun resigned as President and Chief Executive Officer (CEO) of the Company. In addition, the Board of Directors of the Company (Board) appointed Mr. Schonbrun to serve as Chairman of the Board. Effective September 12, 2012, Peter Henricsson was appointed to serve as the Company's new President and Chief Executive Officer (CEO)and member of its Board of Directors. Full Article
Bitzio Inc Engages New CEO And Divests Info-Products Suite To Focus On Licensing And Media Rights Strategy
Bitzio Inc announced that several developments which strengthen the Company's balance sheet and executive team to further focus the Company on its targeted app development for sports and entertainment properties. Among the developments are the sale of its info-products divisions including its app developer training series, The App Code, a round of financing and changes to the executive team including the addition of Peter Henricsson as the new President & CEO of Bitzio. Peter Henricsson, new Bitzio President & CEO - Peter Henricsson is taking on the role of president and CEO of Bitzio. Divestiture of Info-Products Suite - With the sale of the info-products suite complete, over $700,000 in liabilities are removed from Bitzio's balance sheet. Full Article
NFL PLAYERS Partners With Bitzio, Inc. To Produce Football Trivia Mobile App
Bitzio Inc announced a licensing partnership with NFL Players, Inc., the licensing and marketing subsidiary of the NFLPA, to develop an innovative, player-based trivia application for IOS devices. The Football Trivia app, which will launch in mid-October, will pit fan against fan as they answer trivia questions about a selected player in a competitive duel of football knowledge. To make the game more challenging and fun, users will need to dodge obstacles thrown by their opponent in a race against the clock to earn the most pigskins. The fan who collects the most footballs is the winner. Full Article
Bitzio Inc Announces Close Of Mobile Gaming Acquisition ACT Smartware
Bitzio Inc announced the closing of its acquisition of German mobile gaming and software company, ACT Smartware (ACT). As required, details of the acquisition terms and the material agreements will be disclosed under Form 8-K and will be filed with the Securities & Exchange Commission. Tobias Berlin and Gerd Mettendorf, founders of ACT Smartware, are now officially part of the Bitzio global team. Full Article
Bitzio Inc Announces Acquisition of Motion Pixel Corporation
Bitzio Inc announced the definitive acquisition of Motion Pixel Corporation Holdings, Inc. (MPC), a high-end media and animation studio with operations in the U.S., Costa Rica, and India. The MPC acquisition adds 35 animators, developers and managers to the expanding Bitzio global team. Terms of the acquisition to be disclosed upon an upcoming 8-K filing. Full Article
Bitzio Inc Announces ACT Smartware Acquisition
Bitzio Inc announced that it has agreed upon terms to acquire German mobile gaming and software company, ACT Smartware (ACT). The acquisition terms have been agreed upon by both companies and a signed letter of intent setting out the terms has been executed. It is expected that the transaction will close in one-two weeks. Upon formal execution of the agreements in Germany, the ACT team and all assets will become a part of Bitzio, Inc. The acquisition will be completed using only Bitzio shares and no cash outlay from Bitzio. All revenues generated by the acquisition will be re-invested into the growth of marketing, development and growth of Bitzio's mobile games. Terms of the transaction were not disclosed. Full Article
Bitzio Inc Enters Into Letter Of Intent To Acquire Knuckle Face, Inc.
Bitzio Inc announced that it has entered into a letter of intent to acquire Knuckle Face, Inc., a UK based mobile game developer. Upon completion of due diligence and the execution of definitive purchase agreements, the Knuckle Face team and all assets will become a part of Bitzio, Inc. Terms for the acquisition will be announced post closing, however, Bitzio management has agreed to re-invest at least 50% of all revenue generated from Knuckle Face games to drive further marketing, development and growth of mobile games. The acquisition is expected to be completed using only restricted common shares and no cash outlay from Bitzio. Full Article
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