San Jose, CA, December 17, 2014 --(PR.com
)-- NeoMagic Corporation (NMGC.PK), the pioneer of embedded memory and logic technology, today provided a business update.
NeoMagic’s eCommerce division, MercadoMagico.com, has experienced a drastic increase in website traffic, as well as a significant raise in visit to conversion ratio, as a direct result of continuing investments and site refinements of MercadoMagico.com.
NeoMagic‘s Board Of Directors has given approval for The Company to pursue business opportunities and alliances that enhance and compliment upon The Company’s core competencies. The Company is now in the process of actively looking for strategic partnerships, joint ventures and/or merger and acquisition opportunities that would expand its products or technology offering.
Further, in keeping with its internal business plan and growth objectives the Company continues to work diligently to execute its strategy of returning to a SEC reporting entity.
NeoMagic continues to maintain its core business with shipments of its legacy product line of MiMagic3 application processors. The Company also continues to focus on identifying new opportunities for its MiMagic 6+ and MiMagic 3 products.
For more information, please contact Investor Relations at IR@neomagic.com