Options Media Group Holdings, Inc. (OPMG)

[HMB2010]

Options Media Signs Definitive Agreement to Acquire Illume Software

Tallahassee, FL 1/31/12 (StreetBeat) -- Options Media Group Holdings, Inc.(Pinksheets: OPMG) has entered into a definitive merger agreement to acquire 100% of the stock of Illume Software, Inc., a Boston-based mobile software company, whose iZup software is a responsible solution to cell phone-related distracted driving. The boards of directors of both companies have approved the merger, which is expected to close by February 12, 2012, subject to various closing conditions, including the approval of Illume shareholders and other customary closing conditions.

Under the terms of the definitive agreement, Illume will become a wholly-owned subsidiary of Options Media. The shareholders of Illume will own 40% of the post-merger company. The completion of the acquisition is contingent on Options Media receiving financing in connection with the acquisition and for ongoing operating costs.


http://emailwire.com/release/printPR.php?prID=80739

For newcomers - WE ARE WAITING ON PR OF DETAILS _ OPMG