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Mobile Data Corp Signs Letter Agreement To Acquire Technology To Develop Unique Social Media Application
SAN JOSE, CA, Aug. 5, 2011 /PRNewswire via COMTEX/ -- Mobile Data Corp. ("MDC") announces that it has entered into a Letter Agreement with BEET Company Ltd. ("BEET") to acquire certain assets from BEET for the development of an application to be used in a wide variety of social media initiatives.
The scope of the application is confidential under the terms of the Letter Agreement in order for MDC to complete its due diligence and identify what resources are required to complete development and introduce the product to users of social media websites. The application is understood to be a natural fit for individuals or entities that use social media to get their message out to a large audience.
The role of social media, as a communication and public relations tool, in communicating a wide variety of messages to interested parties and stakeholder groups is becoming increasingly popular to organizations of all sizes. This new application will provide an additional platform to communicate messages more effectively and leverage the large number of people who are members of various social media websites into taking action and spreading those messages to other potentially interested parties.
Mobile Data Corp is a solutions provider for telecommunications and computer convergence technology. The Company previously developed the "MDCTracker™", and the "MDC-KidTracker™" child safety application for BlackBerry? Smartphones. MDC is committed to acquiring and developing software applications to provide real solutions that address real issues. Developing products for use in social media forums is a natural progression of the MDC's overall business and corporate strategy.
Safe Harbor Statement ---------------------
Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used herein, words such as "intend" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions made by and information available to Mobile Data Corp. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, without limitation, continued acceptance of Mobile's products, technological changes and the successful development of new products, dependence on third-party networks to provide services, dependence on intellectual property rights, increased levels of competition, possible product defects and product liability, changes in Canadian and foreign laws and regulations, significant fluctuations of quarterly operating results, risks related to international sales and potential foreign currency exchange fluctuations, the initiation or outcome of litigation, acts or potential acts of terrorism, international conflicts, and other risks and factors detailed from time to time in Mobile's periodic reports filed with the United States Securities and Exchange Commission, and other regulatory authorities. Should one or more of these risks or uncertainties materialize, or should any of Mobile's underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Mobile's forward-looking statements. Except as required by law, Mobile disclaims any obligation to update or public announce any revisions to any of the forward-looking statements contained in this press release. This communication to shareholders and the public contains certain forward-looking statements.
SOURCE Mobile Data Corp.
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KEYWORD: California
INDUSTRY KEYWORD: MNG
OTC
SUBJECT CODE: TNM
