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Satellite Security Corporation (OTCBB:SLTS) Completes Acquisition of AIMMS, Inc. and Changes Name to MOBICOM; Appoints Michael Levinsohn as CEOSAN 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. |
