BIZ Outsourzing, Inc. Acquires Mobile Game Developer In China; Targeting US$ 150 Million Market
GUANGZHOU, China, April 12 /Xinhua-PRNewswire/ -- BIZ Outsourzing, Inc. (Other OTC: BIZO.PK) (''BIZO'') today announced that it has acquired the business operations of Guangzhou Yin Han Technology Company Limited ('YinHan'), a mobile game developer and distributor incorporated in Guangzhou, Guangdong Province, China.
Incorporated in 2001, YinHan is a leading mobile games developer in China. Among its game library are the popular Role-playing Game (RPG) 'Journey to the West' and 'Essence of Swords', both distributed over the Wireless Application Protocol (WAP) platform of China Mobile network; and other game types that ride on a variety of mobile phone services platforms including, kJava, Short Messaging Service (SMS) and Interactive Voice Response (IVR) platform.
Strategically headquartered in Guangzhou City of China, YinHan has maintained solid relationships with local and national mobile operators including China Mobile Guangdong branch. Some of its games are distributed through a unique instant messaging web-based community QQ (
http://www.QQ.com ) operated by Shenzhen Tencent. In the light of the coming 3G implementation in China, YinHan also plans to provide kJava games over the 3G mobile network.
The accumulated subscribers of YinHan games have reached 4 million in Guangdong Province as of December 2006; among which 1.36 million are in Guangzhou City. According to ResearchInChina, the total number of mobile games subscribers in China will reach 23.11 million in China, up by 62.9% over the year of 2005. China's mobile game market turnover shall exceed RMB 3.1 billion (USD 387 million) in fiscal 2008, an increase of 158% from RMB 1.2 billion yuan (USD 150 million) in fiscal 2005.
The share exchange agreement provided for the purchase by BIZO of all the outstanding shares of common stock of Free World International Limited (''Free World''), a company incorporated under the laws of the British Virgin Islands, through the exchange for 40,000,000 newly issued shares of common stock of BIZO. All the outstanding shares of capital stock of YinHan are held in trust by Free World and, hence, YinHan becomes a wholly-owned operating subsidiary of BIZO.
Milestones of Yin Han
2001 Incorporated in Guangzhou, Guangdong Province, China
2002 Launched Role-playing Game ('RPG') 'League of Water Margin'
over the WAP Platform; jointly developed with other 7 partners
including Shenzhen China Motion
2003 Launched the game 'Journey to the West in Tang Dynasty' over the
SMS platform; jointly developed with Tencent (''Tencent'')
(
http://www.tencent.com ) and distributed through QQ, the
instant messaging service platform operated by Tencent.
2004 Launched the game 'The Roaring Proud Wanderer' over the SMS
platform; jointly developed with Guangzhou AuChuang Information
Technology Company, Limited.
2005 Launched RPG 'Journey to the West' over the WAP platform; the
first game solely developed by Yin Han and distributed through
QQ, the instant messaging service platform operated by Tencent.
2006 Launched RPG 'Essence of Swords II' over the WAP platform
RPG 'Journey to the West' received ''2006 The Best WAP Mobile
Game Award'' at the Third China Mobile Games Awards organized by
Downjoy.com (wap.downjoy.com), a well-recognized mobile games
portal in China
About BIZ Outsourzing, Inc.
BIZ Outsourzing, Inc. (BIZO) is a developer of interactive mobile games and other wireless applications delivered over a variety of mobile phone platforms in China including SMS, WAP over GPRS, kJava and/or BREW. Strategically located in Guangzhou City of the People's Republic of China, BIZ Outsourzing, Inc's wholly-owned operating subsidiary, Guangzhou Yin Han Technology Company Limited (
http://www.egege.com.cn ), develops, markets and sells the mobile games to local mobile network operators including China Mobile. BIZ Outsourzing, Inc. also plans to distribute mobile games from third parties and to develop wireless applications across the mobile platform.
For more information please visit BIZ Outsourzing, Inc.'s corporate website (
http://www.ChinaGameOne.com )
Safe Harbor
A number of statements referenced in this Press Release, and in our website, are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be ''forward-looking statements.'' Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as ''expects,'' ''will,'' ''anticipates,'' ''estimates,'' ''believes,'' or statements indicating certain actions ''may,'' ''could,'' or ''might'' occur. Such statements reflect the current views of BIZ Outsourzing, Inc. with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.
BIZ Outsourzing, Inc. does not undertake any responsibility to update the ''forward-looking'' statements contained in this news release.
For more information, please contact:
Investor Relations Officer
Tel: +86-20-8556-8700
Email: ir@ChinaGameOne.com
SOURCE BIZ Outsourzing, Inc.
Source: PR Newswire (April 12, 2007 - 10:40 AM EDT)
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