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Valuesetters Buys Mobile Content Delivery Business

Oct 01, 2014 (ACCESSWIRE via COMTEX) -- White Plains, NY / ACCESSWIRE / October 01, 2014 / Valuesetters, Inc. (OTC Pink: VSTR) announced that it has purchased the mobile content delivery platform and operations of TelcoSoftware.com Corp., a cloud-based over-the-top (OTT) content delivery business.
Valuesetter's Chief Executive Officer, Manny Teixeira, noted, "TelcoSoftware has been providing an innovative technology for more than 10 years, and is the vendor behind our V-Star app that we sell on Google Play. Instead of being a customer of TelcoSoftware, we decided it was in our best interest to own their technology and use our marketing dollars to increase OTT revenues. With our ownership of this mobile content platform, we are now capable of distributing music, movies, text, voice and advertising."

Teixeira continued, "We believe that OTT delivery is critical to attracting and keeping subscribers. Offering multiple content options is becoming increasingly important as consumers utilize their devices for games, video, audio and other media needs. We project an increasing demand for functions created by cloud solutions, and we are very excited that we are now a cloud-based mobile app and media company."

In order to complete the purchase, the majority shareholder of Valuesetters paid 40 million shares of common stock to TelcoSoftware.com Corp., and Valuesetters then purchased the business from its majority shareholder for a $1 million note.