Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Carmen Gonzalez, Pat Romanski, AppDynamics Blog, Roger Strukhoff

News Feed Item

Brisio Innovations Enters into Letter of Intent with OakBranch Media Inc.

Plans to aggressively grow OakBranch's alternative mobile app store

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/18/14 -- Brisio Innovations Inc. (CSE: BZI) ("Brisio" or the "Company"), announced today that it has entered into a non-binding Letter of Intent dated March 14, 2014 (the "LOI") to acquire up to 100% of the issued and outstanding securities of OakBranch Media Inc. ("OakBranch") and its underlying assets (the "Transaction"). OakBranch is an integrated media company with its main assets being the Good e-Reader website, a leading website specializing in e-Reader, eBook and Digital Publishing News, which has over 230,000 unique visitors per month, and the Good e-Reader App Store, which with over 35,000 apps, 420,000 unique visitors and 7 million page views per month, is the largest independent Android and Blackberry alternative app store in Canada. OakBranch also operates its own video studio and YouTube channel, which receives over 320,000 views per month.

Transaction Structure

Under the terms of the LOI, Brisio will undertake the Transaction on the following terms:


a.  in consideration for aggregate cash payments of $130,000, to be paid by
    Brisio to OakBranch upon the achievement of certain milestones by
    OakBranch to be determined by Brisio and specified in the definitive
    agreement to be entered into between Brisio and OakBranch with respect
    to the Transaction (the "Definitive Agreement"), Brisio will acquire
    securities of OakBranch, of a class to be determined and specified in
    the Definitive Agreement, sufficient to give Brisio a 30% voting and
    equity interest in OakBranch;
b.  OakBranch will grant Brisio an option, that will expire one year from
    the date of closing of the Definitive Agreement (the "Closing"), to
    acquire additional securities of OakBranch, of a class to be determined
    and specified in the Definitive Agreement, sufficient to give Brisio an
    additional 19.9% voting and equity interest in OakBranch, bringing
    Brisio's total interest in OakBranch to 49.9%, exercisable upon: (i) the
    issuance by Brisio to OakBranch of 250,000 common shares of Brisio
    (each, a "Brisio Share"), and (ii) the payment of $75,000 by Brisio to
    OakBranch; and
c.  OakBranch will cause each of the shareholders of OakBranch
    (collectively, the "OakBranch Shareholders") to grant Brisio a right of
    first refusal to acquire the remaining 50.1% of the outstanding voting
    and equity interests of OakBranch from time to time from the OakBranch
    Shareholders on terms to be specified in the Definitive Agreement.

Completion of the Transaction is subject to a number of conditions, which will be further specified in the Definitive Agreement, including satisfactory completion of due diligence by Brisio on OakBranch and receipt of the approval of the Canadian Securities Exchange (the "CSE") for the Transaction.

Paul Andreola, President and CEO of Brisio, stated, "This Transaction denotes another significant opportunity for Brisio to grow its scope of business by moving into the highly valued app store space. OakBranch has substantial reach and a loyal and growing following, which we believe can be highly leveraged and of significant value to Brisio in the future, and can provide us with the opportunity to own a major stake in an established player in the lucrative app store market".

There has been a dramatic rise in the cost per install for mobile applications developers over the last several years. This rising cost has increased the demand for new mobile app discovery systems. This demand is highlighted by some of the industry transactions of the last year. In February 2014, Sungy Mobile (GOMO: Nasdaq) acquired independent appstore, Getjar, and in July 2013, Baidu purchased independent appstore, 91 Wireless, for $1.9 billion. Based on information compiled by Moby Affiliates (1) over 2.5 billion mobile apps are downloaded per month from alternative app stores around the world. According to One Platform Foundation,(2) "Submitting your app to alternative appstores will increase expected downloads for your app by more than 200% in reference to Google Play only."

Michael Kozlowski, CEO of OakBranch, stated "We are excited to work with Brisio. There is a great deal of synergy between our two companies and their assistance will help greatly in allowing OakBranch and Good e-Reader to execute on a number of exciting opportunities."

(1) http://www.mobyaffiliates.com/blog/a-list-of-alternative-app-stores-for-distributing-your-app-or-mobile-game/

(2) http://www.onepf.org/appstores/

About Brisio Innovations

Brisio is focused on the acquisition, development and marketing of software applications for mobile computing devices, such as smart phones, tablets, and wearable computers.

About OakBranch Media

Established in 2008, OakBranch owns and operates the Good e-Reader website and webstore and the Good e-Reader appstore. Good e-Reader is a leading provider of E-Book, E-Reader, Tablet and Slate PC news. With tens of thousands of mobile apps available, the Good e-Reader appstore is the largest of its kind in Canada. Visit Good e-Reader at http://goodereader.com. Download the Good e-Reader appstore app at http://apps.goodereader.com/android-apps/android-app-stores/?did=171

On behalf of the Board,

Paul Andreola, President, CEO and Director

For more information on Brisio visit http://brisio.com/

Find Brisio Innovations on the CSE http://www.cnsx.ca/CNSX/Securities/Diversified-Industries/Brisio-Innovations-Inc.aspx

Like Brisio on Facebook https://www.facebook.com/brisio.innovations

Follow Brisio on Twitter https://twitter.com/BrisioApps

Connect with Brisio on LinkedIn http://www.linkedin.com/company/3582550?trk=tyah&trkInfo=tas%3Abrisio%2Cidx%3A1-1-1

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential positive effects that the Transaction may have on the business of the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, and include discussion of: (i) the proposed terms of the Transaction; (ii) the potential opportunities and value Brisio may derive from the acquisition of an interest in OakBranch; and (iii) the potential synergies between the businesses of OakBranch and Brisio. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements, including: (i) that the Company and OakBranch may not be able to agree on terms with respect to the Definitive Agreement; (ii) that the Company may not be satisfied with its due diligence review of OakBranch; (iii) that the Company may not receive the necessary approvals to consummate the Transaction, including the approval of the CSE; and (iv) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws. Additional information about the Company is available in the Company's public

Contacts:
Brisio Innovations Inc.
Paul Andreola
President, CEO and Director
(604) 644-0072
www.brisio.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Why does developer experience matters, what makes for a great developer experience and what is the relationship between developer experience and the broader field of user experience? Software developers are gaining more influence over the purchase decisions of technologies with which they must build on and with which they must integrate. For example, the success of Amazon Web Services, Heroku and MongoDB has been driven primarily by individual software developers choosing to use these tools, ra...
Software Defined Storage provides many benefits for customers including agility, flexibility, faster adoption of new technology and cost effectiveness. However, for IT organizations it can be challenging and complex to build your Enterprise Grade Storage from software. In his session at Cloud Expo, Paul Turner, CMO at Cloudian, looked at the new Original Design Manufacturer (ODM) market and how it is changing the storage world. Now Software Defined Storage companies can build Enterprise grade ...
SYS-CON Events announced today that EnterpriseDB (EDB), the leading worldwide provider of enterprise-class Postgres products and database compatibility solutions, 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. EDB is the largest provider of Postgres software and services that provides enterprise-class performance and scalability and the open source freedom to divert budget from more costly traditiona...
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
T-Mobile has been transforming the wireless industry with its “Uncarrier” initiatives. Today as T-Mobile’s IT organization works to transform itself in a like manner, technical foundations built over the last couple of years are now key to their drive for more Agile delivery practices. In his session at DevOps Summit, Martin Krienke, Sr Development Manager at T-Mobile, will discuss where they started their Continuous Delivery journey, where they are today, and where they are going in an effort ...
Gartner predicts that the bulk of new IT spending by 2016 will be for cloud platforms and applications and that nearly half of large enterprises will have cloud deployments by the end of 2017. The benefits of the cloud may be clear for applications that can tolerate brief periods of downtime, but for critical applications like SQL Server, Oracle and SAP, companies need a strategy for HA and DR protection. While traditional SAN-based clusters are not possible in these environments, SANless cluste...
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
The OpenStack cloud operating system includes Trove, a database abstraction layer. Rather than applications connecting directly to a specific type of database, they connect to Trove, which in turn connects to one or more specific databases. One target database is Postgres Plus Cloud Database, which includes its own RESTful API. Trove was originally developed around MySQL, whose interfaces are significantly less complicated than those of the Postgres cloud database. In his session at 16th Cloud...
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business's infrastructure required to support an effective web experience... but they are missing a critical component - Internet visibility. Internet connectivity has always played a role in customer access to web presence, but in the past few years u...
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud en...
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize sup...