April 26, 2012, 6:59 p.m. EDT Digagogo'sSubsidiary, Impact Innovations,Signs Joint Venture Agreement With Adelman EnterprisestoEnter Indie FilmIndustry Marketplace
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DETROIT, MI, Apr 26, 2012 (MARKETWIRE via COMTEX) --Digagogo Ventures Corp. ( www.digagogo.com ), an Internet technology company dedicated to seeking acquisitions and creating joint ventures within the online sector, announced today that its board of directors has executed a Definitive Joint Venture Agreement between Adelman Enterprises, Inc. (Adelman Enterprises) and its wholly-owned subsidiary, Impact Innovation Systems, Inc. (Impact). The two groups will work collaboratively to create and build IndiKix, an online social network community marketplace for the distribution of independently produced non-studio films (Indie Films).
The state of Hollywood has changed dramatically over the past several years as big studios are using the majority of their funds to produce and distribute summer and holiday tent pole event films. With studios focusing on production costs and budgets of $100 million and more, Independent Producers (Indies) are finding it harder to secure distribution for their films. Even with the growth of online internet digital distribution, filmmakers are still required to submit their titles through digital aggregators and distributors in order to get market penetration. IndiKix will remove these barriers and create an entirely new marketplace where filmmakers can sell their titles directly.
IndiKix's vision is to help fill this distribution void by implementing its online marketplace backed by the "Swebby" technology to more effectively market Indie films. IndiKix will soon be one of the leading new Indie films social media marketing systems that is more target audience oriented and efficient.
Under the terms of the Agreement, Impact will provide IndiKix with a non-exclusive license to use Impact's proprietary "Swebby" back-end portal technology. Adelman Enterprises will contribute its expertise in design and development of the front-end interface, advise on the marketing and branding, and share its extensive experience in the entertainment and film industry. Impact and Adelman Enterprises will equally share in the success of this venture.
Charles Adelman, President of Adelman Enterprises, Inc. said, "We are extremely pleased to welcome Digagogo's Impact Innovations Inc., as our Joint Venture Partner and look forward to utilizing their technology platform to manage and create a new distribution model for independent filmmakers to reach audiences worldwide."
Digagogo Ventures Corp. President, Nehru Chomatil, stated, "We are excited to create this new platform for independent film distribution. It's an excellent addition to our portfolio of Internet community social network assets." Mr. Chomatil went on to say, "This partnership provides us with additional access to a totally different industry vertical, with minimal risk and strong upside potential. We look forward to a long and mutually rewarding relationship with our new JV Partners at Adelman Enterprises, Inc."
About Adelman Enterprises, Inc. Adelman Enterprises is a global media and technology incubation company, which specializes in creating new social media platforms and interactive technologies, and works strategically with companies to expand their marketing and branding.
About Digagogo Ventures Corp. Digagogo is a technology company based in Detroit with expertise in digital marketing, advanced Internet and telecommunication technology, and a strong background in the research and development of emerging technologies. Key members of Digagogo were involved in the development of software in areas ranging from security solutions for The United States Department of Defense (AirForce/NASA), Citibank Financial, ADP Payroll and Nissan Motor Corp., to high value interactive entertainment solutions for companies such as 20th Century Fox, Electronic Arts, Nexon and other online entertainment multi-nationals. In addition, Digagogo has a highly skilled international team that has worked with companies like Alliance Technology, Universal Music, and Esprit to identify market gaps and apply emerging technologies that drive business revenue. Digagogo has compounded all this knowledge to design DoGoNet, DoGoSearch and DoGoPay. These products and services aid in building strong local economies for any given region by facilitating digital sales, distribution and advertising networks.
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SOURCE: Digagogo Ventures Corp.
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